Abstract
The twentieth century has been so rich in disasters that the oil price explosions of the 1970s (see Figure 4.1) cannot rank near the top of the list. But they have more than a minor place.
This paper incorporates much past work, and it also summarizes a paper now in draft, on the theory and measurement of mineral scarcity, with special reference to oil and natural gas. The work is being supported by the Center for Energy Policy Research at M.I.T., and by the National Science Foundation, grant SES-8412971. I am indebted to Michael C. Lynch for valuable assistance. The opinions expressed here, however, are those of the author alone, and do not necessarily reflect the views of any other person or group.
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References
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© 1987 International Research Programme, London School of Economics
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Adelman, M.A. (1987). The Economics of the International Oil Industry. In: Rees, J., Odell, P.R. (eds) The International Oil Industry. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-09340-3_4
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DOI: https://doi.org/10.1007/978-1-349-09340-3_4
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