The Present & Future Global Oil Market

Abstract: A 6 page paper discussing the current and future global market share of the oil industry. All the industrialized nations that so heavily had depended on OPEC-produced oil had instituted wide-ranging conservation measures with the crisis of 1973-1974, and most of them experienced recession due in large part to the stranglehold OPEC had on their economies in the late 1970s and the 1980s. The combination of the two factors, and their influence from all of the industrialized world, served to weaken the oil market. Forecasts into the middle of the next century call for only further decline of the oil market. Bibliography lists 5 sources.

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Catagory: World Affairs

Subcatagory: Global & Comparative Politics

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