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A CRITIQUE OF THE PREVAILING THEORIES OF
AN HISTORICAL ANALYSIS OF THE MIDDLE EAST
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8000 and deeper agriculture analysis associated average oil recovery capital investment chapter constant capital costs per barrel countries crude oil decline Dependency Theory determination development costs differential oil rent differential rent duction dummy variable Edith Penrose equations existing expenditures per barrel Ibid imperfect competition individual values international oil industry Karl Marx least productive oil long-run magnitude major oil market prices market value Marx's theory Middle East Middle East oil mode of production monopoly nature neoclassical economics oil crisis oil discovery oil production Oil Reservoirs oligopoly OPEC Petroleum political posted price pre-capitalist price of oil productive oil regions pure competition rate of profit raw materials result Ricardo royalty significant social relations sphere structure surplus value Table theoretical theorists theory of oil theory of rent total capital costs trend U.S. Department U.S. dollars U.S. oil fields U.S. oil prices unequal exchange United value formation