INTRODUCTION: A personal comment

THE EVOLTION OF OPEC: The early stages

The formation of OAPEC

The changing role of the 'Seven Sisters'

Libya leads OPEC

The last hurrah the quadrupling of prices

THE STABILITY OF CARTELS AND PRICE LEADERSHIP: Preliminary remarks

The difficult task of colluding

Collusion within OPEC

Why cartels

A theory of cartels

OPEC and collusion

OPEC as a joint sales agency

Price leadership by a dominant firm

The formal model

THE ECONOMICS OF EXHAUSTIBLE RESOURCES: The formal model

The threat to property rights

OPEC IS NOT A CARTEL AN ALTERNATIVE EXPLANATION: The oil market 1947-1970

The oil market 1970-1973

Cartelization or alteration of property rights

But does not Saudi Arabia dominate OPEC

An alternative hypothesis the companies as tax collectors

THE IRANIAN REVOLUTION AND THE OL PRICE EXPLOSION: Temporary and permanent effects

The evolution of prices, January 1978-June 1979

The explosion of prices, November 1979-February 1980

Blaming the oil companies

SAUDI ECONOMIC CHOICES: Introduction

Absorptive capacity

The Saudi realities

The risks and rewards of foreign investment

OPEC and Saudi Arabia

Word on the appendices

The nature of inflation in Saudi Arabia

The price of land in Saudi Arabia

Private Saudi investment abroad

Not for rent please the consequences of rent controls

SAUDI INSTIUTIONAL PROCESSES AND ECONOMIC MODERNIZATION: Decision making

The ministry of finance and national economy a government within government

Saudi economic development

Saudi economic issues in the 1980s

THE WORLD OIL MARKET AND THE ROLE OF SAUDI ARABIA.