Sharp fluctuations in oil prices over the past thirty years have had detrimental effects on the evolution of the world economy, with a growing need to diversify energy sources – conventional and non-conventional, renewable and non-renewable.
This timely investigation examines the energy problem on a global scale as well as in a political framework. It assesses the role of Saudi Arabian hydrocarbons in underpinning the industrialization of the Kingdom’s own economy and the economy at large, in light of recent events. These include the emergence of China and India as major players on the world’s political, economic and energy stages; the 2003 invasion of Iraq; and the financial crisis, which led to the economic recession of 2008–9.
Packed with insider industry knowledge, this survey of the world oil crisis and its solutions is a must for anyone who wants to understand our current oil dependency and its ensuing problems.
About the Authors
Abdulhadi H. Taher received his PhD in Business Administration from the University of California, Berkeley, in 1964. He worked in both the public and private sectors, as the former Director General of the Saudi Arabian Ministry of Petroleum and Minerals and as founder of the Aal Taher group. He lectured in Business Administration at the King Saud University in Riyadh, and has served as a board member of Saudi Aramco and a governor of Petromin.
Michael Matthews has a BSc in Economics from the London School of Economics. He worked for British Petroleum (BP) for twenty years. In 1971, he moved within BP to the Forecasting Division of Corporate Planning Department. In 1978, he moved to work for Petronal in London as the Senior Economic Analyst and Advisor for Saudi Arabia.
20 colour photographs and over 35 colour charts