The Myth of the Iranian Oil Weapon
Article from: OGEL 4 (2007), in Energy Security
Introduction
During the 1980s and the 1990s, energy security declined in importance as oil prices fell and spare capacity stood at high levels. This was reversed with the turn of this century and energy security once more became a priority in most oil-importing countries' policy agendas. High oil prices, threats of terrorist attacks, instability in many oil exporting countries, and the rise in what so called 'oil nationalism' have raised serious concerns about security of oil supplies. In the background, there are fears that the world may be running out of oil with many observers predicting an imminent ...