Strategic Implications Of The New Oil Reality

This study examines the strategic ramifications of the new oil reality, with particular regard to the Middle East and Israel in the 1980s. It takes as its premise- based on analyses at the time of the oil market and projections into the 1990s- that the world oil market will remain stable at least until the end of this decade.

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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