International politics of energy interdependence: The case of petroleum

Abstract

This is about the worldwide interdependence generated by increased petroleum trade and higher prices, and the constraints on international behavior of virtually all states – created by the events surrounding the historic oil prices hikes of 1973. It provides a corrective to the overwhelming economic-centric views of these events. The conflicts over petroleum prices, imports and exports, and the distribution of market shares are symptomatic of more basic political differences.

Part I is an introduction to petroleum politics and the world oil market. Part II examines the new tensions and strategic vulnerabilities that shaped the global order for the remainder of the 20th century. Part III presents a timely introduction to, and some speculates about, the potential effects of alternative energy sources.