President Putin’s comment that Russia will study the possibility of creating a “gas-OPEC” created a wave of newspaper headlines. Jonathan Stern argues that gas-OPEC is a distraction from much more important issues which have recently emerged in gas trade between Russia and Europe.
Most people still believe that the big international oil Companies dominate the governance of world oil. This is not surprising since these companies continue to be amongst the largest in the world and through most of the twentieth century their power has been unchallenged. Their eclipse inside the exporting countries by the national oil companies […]
The market structure of the Organization of Petroleum Exporting Countries (OPEC) has been debated since 1973, when large price increases catapulted the organization into public attention. The debate continued as prices rose still higher in 1978 and 1979 but subsided when they fell closer to historical levels in 1986. Conventional wisdom suggests that OPEC is […]
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