Scarcity and Growth Considering Oil and Energy, An Alternative Neo-Classical View
Article from: OGEL 2 (2004), in Economic and Commercial Context for Oil, Gas and Energy Law
This is a key chapter from the book, Scarcity and Growth Considering Oil and Energy An Alternative Neo-Classical View , by Douglas B Reynolds. The book examines new theories on why and how an oil price shock and energy crisis can hit. It looks at the economics of oil exploration and explains why OPEC works the way it does, and what happened to the former Soviet Union. It examines new theories and evidence about oil scarcity, contradicting the works Scarcity and Growth (1964) and Scarcity and Growth Reconsidered (1979). It combines basic economic principles of ...