A worker is seen at an oil refinery in Wuhan, central China's Hubei province, Nov. 27, 2008.
AP Photo
"The Coming Fall of Resource Nationalism"
Op-Ed, Nuova Energia
December 22, 2008
Author: Justin Dargin, Research Fellow, The Dubai Initiative
Belfer Center Programs or Projects: The Dubai Initiative
"It seems as if the world has not learnt that the oil industry, much like every other sector of the economy, goes through periodic busts and booms, even though it has been happening since the dawn of the oil industry. John D. Rockefeller’s Standard Oil, the spiritual ancestor of OPEC, was created to combat these market bumps. The current fall in oil price, which may have been precipitated more by fear of a sustained global economic crisis, rather than the actual market fundamentals, shows the fragility of the current global economic order."
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For more information about this publication please contact the The Dubai Initiative at 617-496-3694.
For Academic Citation:
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