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Part One Foundations
Depletable Resource Theory
17 other sections not shown
agreements Arab Baku barrels per day buyers cartel Chapter coal concession consuming countries cooperation countries of OPEC crude oil declined depletable resource economic profits economic rent embargo Exxon Figure free world goals IEA Countries IEA Principle income institutions interest International Energy International Energy Agency international majors international oil companies inventory Iran Iranian Iraq Japan Kuwait Libya marginal costs market demand prorationing market prices market shares member countries Middle East million barrels monopolist monopoly nations natural gas non-OPEC OAPEC oil imports oil prices oil production OPEC OPEC members organization output percent policies political posted prices price increases price path primary energy principal problem producing countries profit sharing prorationing purely competitive quantities Ras Tanura relatively reserves revenues rule of capture Russian Saudi Arabia sharing cartel SOURCE spot prices Standard Oil supply theory tion trade U.S. dollars United Venezuela world oil market world petroleum markets