Template-Type: ReDIF-Article 1.0
Author-Name:  M. A. Adelman
Title:  An Unstable World Oil Market
Classification-JEL: F0
Pages:  17-22
Volume:  Volume 6
Issue:  Number 1
Year:  1985
Abstract:  There is a permanent surplus because huge low-cost reserves are available for development. The cartel keeps them undeveloped to maintain the price. Their power is great, but they are a "clumsy cartel" and sometimes overreact to produce a shortage. Hence the future is cloudy and threatening, like the recent past.
Handle: RePEc:aen:journl:1985v06-01-a04
File-URL: http://www.iaee.org/en/publications/ejarticle.aspx?id=1678
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