The Price of Oil
Article from: OGEL 2 (2007), in Global Oil Markets: A Strategic Interpretation
Introduction
The overall theme of this conference, "The economic consequences of high energy prices" raises the obvious question of whether, or by reference to what standard, energy prices are high and, as a corollary, whether energy prices will remain high relative to the same standard. The immediate importance of these questions relates to the viability of prospective investments and, in particular, of investments in "renewable sources and new technologies" presented to this conference yesterday afternoon. I have been asked to focus on the price of oil, which is not a bad proxy for ...