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About OPEC's Role in The Diversified Future Energy Market
This document discusses OPEC's role in the future global energy market. It first reviews OPEC's historical policy instruments of using excess production capacities and quota systems. It then examines criticisms of economic models of OPEC behavior, which typically model OPEC as a perfect cartel or non-cartel player. The paper develops an analytical framework to consider how various factors may impact OPEC's expected oil supply and role, including non-OPEC oil production, long-term supply of unconventional oil, and renewable energy sources. It concludes that OPEC's share of global oil production and role in energy market management are likely to remain significant despite diversification of energy sources.
Detailed Information
| Author: | ['Julie Elizabeth Herring-Sheil'] |
|---|---|
| Publication Year: | 2011 |
| Pages: | 18 |
| Language: | English |
| Format: | |
| Price: | FREE |
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