Global Oil Politics and the Energy Security in the Asian region
Article from: OGEL 5 (2004), in Economic and Commercial Context for Oil, Gas and Energy Law
Introduction
Amid the growing price of oil in the international energy market, there is no evident attempt from the oil giants in the world for a long term solution for this issue. The major sufferers of the price hike are those Asian countries whose dependency over Persian Gulf oil is alarmingly growing day by day. Meanwhile the OPEC countries' plan to revise the price band of oil to a higher level from the current band, set at $22-$28 per barrel insinuate that the international oil price would not come back to a 'pre-Iraq level'. Is the enormous energy demand by the Asian countries the ...