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Crude volatility : the history and future of boom-bust oil prices /

"Oil is the lifeblood of modern civilization, ranking alongside food as one of our most critical commodities. It drives geopolitical, economic, and financial affairs, as well as environmental debates and policymaking. As the place of oil in our global economy has evolved, so too has the way we...

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Bibliographic Details
Main Author: McNally, Robert, 1963- (Author)
Format: Book
Language:English
Published: New York : Columbia University Press, [2017]
Series:Center on Global Energy Policy series.
Subjects:
Organization of Petroleum Exporting Countries > History.
Organization of Petroleum Exporting Countries.
Petroleum industry and trade > United States > History.
Petroleum products > Prices > United States.
Petroleum reserves > United States.
Energy policy > United States > History.
Erdölpreis.
Volatilität.
Petroleum industry and trade.
Petroleum products > Prices.
Petroleum reserves.
United States.
History.
Table of Contents:
  • Introduction: The Texas paradox
  • And then there was light: From chaos to order in the kerosene era (1859-1911)
  • No Rockefeller, no peace: Boom-bust returns (1912-1933)
  • Why are oil prices prone to boom-bust cycles?
  • The Texas era of price stability: U.S. supply controls and international cartelization (1934-1972)
  • The birth of OPEC: 1960-1969
  • OPEC takes control from Texas and the seven sisters: 1970-1980
  • OPEC's rude awakening: 1981-1990
  • OPEC muddles through: 1991-2003
  • Twilight: OPEC's power to prevent price spikes ebbs and vanishes: 2004-2008
  • Oil's third boom-bust era: 2009-?
  • Epilogue.