Addressing the major issues arising from the power ascribed to the Organization of the Petroleum Exporting Countries (OPEC), this book reflects the bredth, expertise and multifaceted viewpoints of the contributors: members of OPEC itself, industry representatives, and scholars and energy specialists from the USA, Europe and the Middle East. Throughout the book, the authors look at the potential of OPEC, discernible trends in such crucial areas as global petroleum supply and pricing, and the international economic and political implications of both.
1. The World Energy Outlook in the 1980s and the role of OPEC René G. Ortiz 2. Two Crises Compared: OPEC Pricing in 1973-1875 and 1978-1980 J. E. Hartshorn 3. Some Long-Term Problems in OPEC Oil Pricing Robert S. Pindyck 4. Optimum Production and Pricing Policies Fadhil Al-Chalabi and Adnana Al-Janabi 5. An Economic Analysis of Crude Oil Price Behavior in the 1970s Walter J. Mead 6. OPEC: Cartel or Chimaera? René D. Zentner 7. The Oil Price Revoltuion of 1973-1974 Salah el Serafy 8. OPEC and the Price of Oil: Cartelization or Alteration of Property Rights Ali D. Johany 9. Future Production and Marketing Decision of OPEC Nations Dennis J. O’Brien 10. Downstream Operations and the Development of OPEC Member Countries Ali M. Jaidah 11. OPEC Aid, the OPEC Fund and Cooperation with Commercial Development Finance Sources Ibrahim F. I. Shihata 12. Oil Prices and the World Balance of Payments John P. Powelson 13. Friends or Fellow Travelers? The Relationship of Non-OPEC Exporters with OPEC Øystein Noreng 14. The Future Relationship Among Energy Demand, OPEC and the Value of the Dollar Jawad Hashim 15. OPEC Revenues and Inflation in OPEC Member Countries: A Fiscal Policy Approach Masood V. Samii 16. Inflation, Dollar Depreciation and OPEC’s Purchasing Power Mansoor Dailami 17. OPEC’s Role in a Global Energy and Development Conference Herbert E. Hansen