Economic considerations regarding the first oil shock, 1973 - 1974

Ilie, Livia (2006): Economic considerations regarding the first oil shock, 1973 - 1974. Published in: , Vol. Identi, (2006)

Abstract

The oil shock of 1973-1974 was an economic and politic important event that produced controversies in the years that followed. No event in the last decades of the 20th century was as visible as the fourfold increase of the oil price in 1973-1974.

Due to different opinions and the topic itself there are many theories and point of views related to the oil crisis. This paper aims to analyze the first oil shock and to brig to attention the existent theories on the topic.

• Item Type: MPRA Paper
• Language: English
• Keywords: oil market, OPEC, oil shock
• Subjects: L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L13 - Oligopoly and Other Imperfect Markets; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy > Q40 - General

References

1. Bina Cyrus, The Economics of the Oil Crisis, St. Martin’s Press, 1985 2. Lenczowski, G., The Oil Producing Countries, DAEDALUS, 1975 3. Norman Girvan, Economic Nationalism, DAEDALUS, 1975 4. Penrose, E. The Development of Crisis, DAEDALUS; 1975 5. Tanzer, M., The Energy Crisis: World Energy Struggle for Power and Wealth, 1974 6. Vernon Raymond, An Interpretation, DAEDALUS, 1975 7. Yergin, D, The Prize – the epic quest for oil, money and power, 1991