Strategic Implications of the New Oil Reality

Originally published in 1986. The oil crises of the 1970s and the shockwaves they sent throughout the industrialized countries and the Third World, appeared at one point to be ushering in an ＂Arab Century.＂ But the first half of the 1980s produced a radically different oil reality. The price of oil dropped from over ＄34 per barrel in l980 to under