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  • Author: Robert McNally
  • Publication Date: 01-2017
  • Content Type: Book
  • Institution: Columbia University Press
  • Abstract: As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations. Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how—even from the oil industry's first years—wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions—first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC—succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations—including mistakes to avoid—as we confront the unwelcome return of boom and bust oil prices.
  • Topic: Economics, Oil, OPEC
  • Political Geography: United States, Middle East
  • Publication Identifier: 9780231543682
  • Publication Identifier Type: ISBN
  • Author: Daniel S. Hamilton, Joseph P. Quinlan
  • Publication Date: 01-2010
  • Content Type: Book
  • Institution: Center for Transatlantic Relations
  • Abstract: Despite the recession, the United States and Europe remain each other's most important foreign commercial markets. No other commercial artery in the world is as integrated and fused as the transatlantic economy. We estimate that the transatlantic economy continues to generate close to $4.28 trillion in total commercial sales a year and employs up to 14 million workers in mutually “onshored” jobs on both sides of the Atlantic.
  • Topic: Economics, International Trade and Finance, Markets, Bilateral Relations
  • Political Geography: United States, Europe
  • Author: Laurent Cohen-Tanugi
  • Publication Date: 08-2008
  • Content Type: Book
  • Institution: Columbia University Press
  • Abstract: Contrary to an optimistic vision of a world "flattened" by the virtues of globalization, the sustainability and positive outcomes of economic and political homogenization are far from guaranteed. For better and for worse, globalization has become the most powerful force shaping the world's geopolitical landscape, whether it has meant integration or fragmentation, peace or war. The future partly depends on how new economic giants such as China, India, and others make use of their power. It also depends on how well Western democracies can preserve their tenuous hold on leadership, cohesion, and the pursuit of the common good. Offering the most comprehensive analysis of world politics to date, Laurent Cohen-Tanugi takes on globalization's cheerleaders and detractors, who, in their narrow focus, have failed to recognize the full extent to which globalization has become a geopolitical phenomenon. Offering an interpretative framework for thought and action, Cohen-Tanugi suggests how we should approach our new "multipolar" world—a world that is anything but the balanced and harmonious system many welcomed as a desirable alternative to the "American Empire."
  • Topic: Economics, Globalization, International Political Economy
  • Political Geography: United States, Global Focus