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"Although Africa has long been known to be rich in oil, extracting it hadn't seemed worth the effort and risk until recently. But with the price of Middle Eastern crude oil skyrocketing and advancing technology making reserves easier to tap, the region has become the scene of a competition between major powers that recalls the nineteenth-century scramble for colonization there. Already the United States imports mor eof its oil from Africa than form...
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"Oil, Dollars, Debt, and Crises studies the causes of the current oil and global financial crisis and shows how America's and the world's growing dependence on oil has created a repeating pattern of banking, currency, and energy-price crises. Unlike other books on the current financial crisis, which have focused on U.S. indebtedness and American trade and economic policy, Oil, Dollars, Debt, and Crises shows the reader a more complex picture in which...
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This book shatters many misconceptions about foreign investment in Latin America. Viewing the foreign investor as neither cruel oppressor nor friendly benefactor, Jonathan Brown shows that the dynamic growth of the Mexican oil industry resulted from both the infusion of external capital and Mexico's own economic restructuring - conditions similar to those under which free markets are today being revived throughout the hemisphere. Brown's voluminous...
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"The Middle Eastern and North African region (MENA) dominates world energy exports today and will likely do so for decades to come, even if world consumers make steady progress in conservation, renewable energy sources, and increases from gas, coal, and nuclear power. The MENA region, however, has been the scene of birth internal crises and external conflicts. On several occasions, these crises have affected either the flow of MENA energy exports...
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Explores the obsessions and misperceptions surrounding the resource that has shaped our lives, demonstrating that oil will be with us for a long time to come. Oil is the most vital resource of our time. Because it is so important, misperceptions about the black gold abound. The author clears the cobwebs by describing the colorful history of oil, and explaining the fundamentals of oil production. He delivers a controversial perspective on the industry,...
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Each week the oil and gas fields of sub-Saharan Africa produce well over a billion dollars' worth of oil, an amount that far exceeds development aid to the entire African continent. Yet the rising tide of oil money is not promoting stability and development, but is instead causing violence, poverty, and stagnation. It is also generating vast corruption that reaches deep into American and European economies. In Poisoned Wells, Nicholas Shaxson exposes...
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"This book explains a puzzle: In the midst of two massive oil booms in the 1970s, why did oil-exporting governments as different as Venezuela, Iran, Nigeria, Algeria, and Indonesia choose common development paths and suffer similarly disappointing outcomes? In this work, Karl illuminates the manifold economic and political factors that determine the nature of the state in oil-exporting countries and explain why booms destabilize regimes while creating...
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Countries that are rich in petroleum have less democracy, less economic stability, and more frequent civil wars than countries without oil. What explains this oil curse? And can it be fixed? In this analysis, the author looks at how developing nations are shaped by their mineral wealth, and how they can turn oil from a curse into a blessing. He traces the oil curse to the upheaval of the 1970s, when oil prices soared and governments across the developing...
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The creation of oil "rents" in the 1970s put Algeria, Iraq, and Libya on the fast track to modernization. Massive revenues turned Algeria into the "Mediterranean dragon," Libya into an "emirate," and Iraq into the preeminent "rising military power" of the Arab world. From a political perspective, the progressive socialism of these countries would seem to have engendered profound, promising change: increased rights for women, positive urbanization,...
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"Steve A. Yetiv argues that common assumptions about oil markets are wrong. Although prices remain volatile, Yetiv's account portrays a world market in petroleum products far more benign and predictable than the one to which we are accustomed. In Crude Awakenings, he identifies and analyzes real and potential threats to the global energy supply, including wars, revolutions, coups, dangerous alliances, oil embargoes, Islamic radicalism, and transnational...
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"What precisely are the costs of our addiction to foreign oil? Unfortunately, no one has yet offered a satisfactory answer to this vital question. In Over a Barrel, John Duffield argues that the costs are much greater than most people realize. While some costs, like the annual bill for oil imports or the price that motorists pay at the pump, are obvious and quantifiable, others, such as the resulting constraints on U.S. diplomacy, are not so apparent...
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