A worldwide analysis of crude oil prices and the economic pressures on this commodity between 1950 and 1971 is made. Contrary to popular belief, economic pressures often brought about by technological advances and sometimes by overzealous sellers keep the world price of crude oil in a state of flux. Some exceptions, notably the U.S., where political and intentional government pressures produce near monopoly conditions, are treated in detail. The history of tanker rates and trends to larger tankers is shown to produce a lowering of delivered crude oil prices to buyers. Political actions by the supplying nations of Asia and Africa also affect short term prices. The conclusion that no one knows the exact price of crude oil to the penny on world markets leaves the door open for conjectures and further study.

  • Corporate Authors:

    Resources for the Future, Incorporated

    Johns Hopkins Press
    Baltimore, MD  United States  21218
  • Authors:
    • Adelman, M A
  • Publication Date: 1972

Media Info

  • Pagination: 438 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00041294
  • Record Type: Publication
  • Source Agency: Resources for the Future
  • Report/Paper Numbers: Book
  • Files: TRIS
  • Created Date: Feb 14 1973 12:00AM