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| Author: | Yamani, S. A. Z. |
| Title: | Oil price stability and free markets |
| Journal: | Energy Policy
1992 : JUN, VOL. 20:6, p.495-499 |
| Index terms: | OIL PRICES OIL INDUSTRY FREE TRADE MARKETS |
| Language: | eng |
| Abstract: | The relationship between free markets and the oil industry is explored in the article. It is sometimes said that the "oil industry is too important to be left to the free market". On the other hand, most of the experts are familiar with the observation that "market fundamentals are neglected at th e peril of the industry". What is needed today is to steer a middle course between these two contradictory views of oil business. The article advocates trading some market freedom for more price stability, since such a trade off will be beneficial to the world as a whole. The conditions for stability are considered in detail. |
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