An Economic Analysis of Petroleum and Military Security in the Persian Gulf.

Geologic estimates ofremainingglobalpetroleum resourcesplace about 50% in the Persian Gulf. Production costs are estimated at $5 per barrel there, and $15 per barrel in the North Sea andAlaska. Using mathematical methods derivedfrom depletion theory, the present valueofeconomicrentfromoilisontheorder of$20trillion. Gametheoryisutilizedtoexplain the $15-$20 per barrel price band that eXistedfrom 1986 to 1999; new economicforces may displace this stable pattern. International trade in petroleum and conventional weapons are analyzedwitheconometricmethods; theoccurrence ofnuclearweaponscapabilityisexplored


Issue Date:
1999-11
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/121157
Total Pages:
28
Series Statement:
SP 99-05




 Record created 2017-04-01, last modified 2017-08-26

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