(DOWNLOAD) "Resource Plenty: Why Fears of an Oil Crisis are Misinformed." by Harvard International Review " eBook PDF Kindle ePub Free
eBook details
- Title: Resource Plenty: Why Fears of an Oil Crisis are Misinformed.
- Author : Harvard International Review
- Release Date : January 22, 1997
- Genre: Business & Personal Finance,Books,
- Pages : * pages
- Size : 253 KB
Description
Sarah A. Emerson is Director of Energy Security Analysis Inc., an energy research firm. Concerns over the "energy security" of an oil-consuming country arise from two commonly held assumptions. The first is the general assumption that global oil supplies are finite and dwindling. The second and more specific assumption is that most of the remaining oil is located in politically unstable regions such as the Middle East. Since the first oil crisis in 1973, these two assumptions have shaped energy policy in the oil-consuming countries of the Organization for Economic Cooperation and Development (OECD). The United States has essentially replaced fuel oil with natural gas in industrial consumption and electric power generation. In Europe, gasoline is so heavily taxed that the price at the pump is as much as five times higher than the price at the refinery gate. European countries have also compelled their refiners and importers to hold a minimum level of petroleum product inventory, while the United States, Japan, Germany, and, more recently, South Korea have built substantial government stockpiles. These and other policies have promoted conservation and now provide a buffer stock that will lessen the short-term price impact of a supply disruption.
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