Abstract
The present easing on the world oil market could foster the illusion that energy problems are now resolved. During 1981 various oil-producing countries (OPEC and non-OPEC alike) found they had to cut their prices. OPEC production has had to be reduced by about one-third from the 1979 level of 31 mbd1. Last September’s OPEC output of 20 mbd was the lowest monthly figure for 12 years and has by year-end 1981 recovered to just 22 mbd. “The OPEC is no longer able to dictate prices; there is more oil than the market can take.” These are typical recent comments, but they reflect too short-term and superficial a view. The real issue is the question whether energy supplies are secure in thelong term, too, and whether energy itself presents a danger for general economic and political developments.
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Cf. D. Schmitt: Perspektiven der Kohlevergasung und Kohleverflüssigung (Perspectives for coal gasification and liquefaction), in: WIRTSCHAFTSDIENST, No. 11, 1981, p. 538 ff.
Bericht der Enquêtekommission, “Zukünftige Kernenergie-Politik”.
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Mohnfeld, J.H. Economic and political risks of world oil markets. Intereconomics 17, 43–48 (1982). https://doi.org/10.1007/BF02925921
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DOI: https://doi.org/10.1007/BF02925921