This paper provides a look at the factors and events that underlie the turbulent history of oil prices during the 1970s and 1980s. In order to ide...
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This paper provides a look at the factors and events that underlie the turbulent history of oil prices during the 1970s and 1980s. In order to identify and analyze the uncertainty inherent in the future course of oil prices, several political-economic scenarios have been developed and analyzed in order to assess their implications for the economy. Some discussion has been included on the implications of future oil prices on the economy and the utility industry. (This article by Tapan Munroe and Andrew Zimmerman, “The Future of Oil: Managing Risk and Uncertainty,” was published as Occasional Paper 2. Boulder, Colorado: The International Research Center for Energy and Economic Development, 1986. ISBN 0-918714-12-5).
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