Suchergebnisse

The dominant scholarly approach to the analysis of nationalization of foreign extractive industries in Third World countries employs game theory or bargaining models. A commonly used framework in bargaining theory is the so-called "bilateral monopoly model," which posits the existence of two "non-colluding" parties—that is, the foreign investor and a government—each of whom has singular, noncontradictory objectives. The relationship is described in terms of a "balance of power" between the host country and the foreign investor based on the problem of joint-maximization. Each party has what the other needs to maximize their mutual benefits. The foreign investor has capital, organizational resources, expertise, international access to export markets, and marketing ability while the host government has control of natural resources such as ore and crude oil as well as the labor force, and control over taxation, the trade and foreign exchange regime, and other law and regulation.

GREAT BRITAIN CAN USE THE LESSONS OF CANADIAN EXPERIENCE: THE CANADIAN FEDERAL GOVERNMENT HAS MANAGED TO RECONCILE THE INTEREST OF THE COUNTRY WITH THOSE OF THE STATE OF ALBERTA, WHERE OIL IS PRODUCED.

HALF-HEARTED ENERGY POLICIES BASED ON PIOUS HOPES OF CO-OPERATION WITH THE OIL PRODUCERS ARE NOT ENOUGH: THE WEST MUST MINIMIZE ITS DEPENDENCE ON OPEC BY A FUNDAMENTAL RESTRUCTURING OF ITS ECONOMY AND THE MAXIMUM EXPLOITATION OF ITS OWN OIL AND GAS RESERVES.

EXPLAINS FOREIGN AND EOCNOIMIC POLICY OPPORTUNITIES AVAILABLE TO THE SOVIET UNION DUE TO ITS AMPLE PETROLEUM RESOURCES. DESCRIBES POLICY OF OIL EXPORTATION. INDICATES WEAK POINTS IN DOMESTIC OIL PRODUCTION INDUSTRY AS A WHOLE. ANALYSES ROLE OF OIL IN ENERGY POLICY IN GENERAL. SHOWS HOW OIL FACILITATES EXERTION OF GREAT INFLUENCE ON THE ECONOMY OF EASTERN EUROPEAN SOCIALIST STATES.

THE 1973 ENERGY CRISIS WHICH REVEALED THE CRIPPLING EFFECTS OF TOTAL DEPENDENCE ON OPEC SUPPLIES HAS GIVEN GREATER IMPORTANCE TO THE DEVELOPMENT OF NORTH SEA FUEL RESERVES IN EUROPE'S ECONOMIC AND POLITICAL SCHEME. HOWEVER, THE NEW RESOURCES MAY PROVE TO BE A MIXED BLESSING.

This paper constitutes an attempt, in a very brief compass, to provide an historical survey of the traditional roles of government and private enterprise in the exploitation of Latin American petroleum resources, to evaluate the current situation, and to speculate in a limited manner on the future implications of present developments. The basic analytical frame of reference is that of economics, but since the petroleum industry is a world industry, developments in the Latin American petroleum industry must be placed in the wider context of world oil industry economics and politics. From the standpoint of economic analysis, the major conflict between companies and governments appears to be their divergent goals: the companies strive to minimize costs, while the governments insist upon maximizing the companies' contribution to national treasuries. Expropriation is of course the most dramatic of the recurring themes in Latin American petroleum, and can be understood not only in terms of the vulnerability of foreign private investment to local military force, but also as a matter of economic logic in an extractive industry such as petroleum. In addition, the decision to expropriate may reflect the belief that the nation's oil industry is growing too rapidly. This growth may seem excessive relative to reserves, or it may be feared that unchecked growth over too long a time may produce an industry too large for the state to control. Regardless of intentions, expropriation generally reduces the role of a nation's oil industry in world trade and orients it increasingly toward domestic consumption rather than export specialization.

THIS ARTICLE FORMULATES A NEW CONCEPT, AS A TOOL OF ANALYSIS DESIGNED TO COPE WITH THE UNPRECEDENTED PHENOMENA IN WORLD POLITICS CAUSED BY THE ARAB EMBARGO, THE OIL PRICES SET BY OPEC AND THE TREMENDOUS FINANCIAL POWER ACQUIRED BY ITS MEMBERS. THE ARTICLE EXAMINES THE CONDITIONS IN WORLD POLITICS THAT HAVE MADE THE EMERGENCE OF SYSTEMIC POWER POSSIBLE.

THE MIDDLE EAST CONFLICTS ARE CONFLICTS BETWEEN EXISTING AND EMERGING IMAGES OF A WORLD ORDER. NARROW POLITICAL -MILITARY AND ECONOMIC APPROACHES AND ACTION PROPOSALS ARE CONTRASTED WITH THE INTERDISCIPLINARY SYSTEMIC ANALYSIS OF TWO FUTURE SCENARIOS. SCENARIO ONE POINTS UP THE DISASTROUS MULTI-DIMENSIONAL SYSTEMIC RAMIFICATIONS OF US MILITARY INTERVENTIONS; TWO ENTAILS OIL AND ECONOMIC RESOURCES