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"Shrinking oil deposits, growing demand, and political crises in oil-producing countries have contributed to high oil prices in the last decade. This contribution sums up the findings of an edited volume that looks at the effects of oil prices in nine so called 'petrostates': seven altogether in Africa, Latin America, and the Middle East, and two main OECD oil producers. The comparison of these nine countries generates a number of consolidated hypotheses on the link between oil prices and policies that generally support assumptions put forward by the concept of the rentier state: growing oil prices and related revenues are indeed a source of Power in foreign and domestic politics and contribute to macroeconomic gains in the short run, but prospects seem fragile in the mid and Jong term; yet, partially deviating from rentier state theory, actual effects cannot be assessed independently from the non-oil context, which often makes a crucial difference, as the example of Libya with its recent crisis despite high oil income exemplifies. Future research should focus on the interplay of oil conditions and context and investigate the effects of resources other than oil such as natural gas, uranium, and diamonds or other valuable materials. Regarding policy recommendations for Germany, Europe and the West, reducing dependence on oil is key: within the next few decades, however, the West must maintain good relations with petrostates, sometimes at the expense of other foreign policy goals." (publisher's description)

Many studies, like the influential BP Statistical Review of World Energy 2004, notice a worlwide growth of oil-reserves. But there are many reasons to mistrust the official data: They use their own questionable definitions of "oil reserves," mixing conventional & unconventional reserves. Moreover the growth of oil-reserves, which is shown in the statistics, is based more or less on a reassesment of the existing but not on a discovery of new oil-fields. Due to these deceptive practices, the "Assosiation for the Study of Peak Oil" has published a new study with the result that it can find only 780 billion barrels of proved oil worldwide, instead of the 1147,7 billion barrels that BP claims in its statistics. 18 References. Adapted from the source document.

Many studies, like the influential BP Statistical Review of World Energy 2004, notice a worlwide growth of oil-reserves. But there are many reasons to mistrust the official data: They use their own questionable definitions of "oil reserves", mixing conventional and unconventional reserves. Moreover the growth of oil-reserves, which is shown in the statistics, is based more or less on a reassesment of the existing but not on a discovery of new oil-fields. Due to these deceptive practices, the "Association for the Study of Peak Oil" has published a new study with the result that it can find only 780 billion barrels of proved oil worldwide, instead of the 1147,7 billion barrels that BP claims in its statistics. (Prokla / FUB)

Despite various attempts catch-up industrialization a variety of economies of 'Global South' today are heavily dependent on commodity exports. Given persistently high world market prices can be for example in Latin America even a re-prioritization the economies notice and in Africa will begin in the next few years a dozen states with the extraction of its oil reserves. Adapted from the source document.

Hunger for energy meets energy shortage: While demands for oil grow, the supply diminishes, making threats of blocked deliveries, escalating prices, and inflation more and more real. Discussing the topic with Astrid Schneider, Fatih Bodal, the chief economist of the IEA (International Energy Agency, founded in 1973 as a reaction on the oil crisis, to establish itself as an institution within the OECD (Organization for Economic Cooperation and Development context), requests a change in politics among OECD member states. His slogan: We should leave oil, before oil leaves us. Tables, Figures, Photo. O. van Zijl