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ID:
128008
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Publication |
2014.
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Summary/Abstract |
THE WORLD has been caught by surprise by the United States' shale-oil boom. Analysts and experts are still clashing about both its true extent and the possibility of extending a shale revolution beyond North America. In just a few years shale oil could make the United States the world's top oil producer. But a shale revolution is unlikely in the rest of the world, due to some unique factors that characterize the U.S. oil and gas patch. The single-minded focus on the future of shale oil, however, risks obscuring another evolving dimension of the global oil picture that defies the past pessimism spread by peak-oil theorists who claimed that shortages loomed: beyond the United States, the world's oil-production capacity is also growing much faster than demand.
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2 |
ID:
079607
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Publication |
2007.
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Summary/Abstract |
The pressures on Iran to roll back its uranium enrichment programme have increased with the UN Security Council imposing harsher sanctions and Washington indicating that it is even ready to carry out military strikes on Iran's nuclear facilities. The Iranian leadership, on the other hand, continues to claim that its nuclear programme is peaceful and is essential for producing electricity and helping economic development to meet the needs of a growing population. Iran has threatened that, if attacked, it would retaliate by cutting off its oil exports and even disrupt shipping in the crucial Strait of Hormuz through which most of West Asian oil is transported. Given that Iran is an important producer of energy resources, this stand-off between Iran and the West has raised concerns that it could be a prelude to war, similar to the events that unfolded in Iraq in 2003. This article looks at the potential impact on the international oil market, and specifically on India, if oil supplies are terminated from a major oil exporter. It argues that although disruption of supplies from Iran will not have a major impact on global oil supplies per se, given that Iranian exports comprise only 2.5 million barrels per day, nonetheless the speculative impact on prices could be devastating.
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3 |
ID:
053093
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4 |
ID:
119937
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5 |
ID:
116648
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Publication |
2012.
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Summary/Abstract |
Should countries care about where they get their oil? As Middle Eastern oil exports to Asia rise while shipments to the United States and Europe fall, analysts are asking whether this trade shift will have geopolitical consequences, drawing China politically closer to the Middle East while driving the West further away. In North America, the debate over the Keystone XL pipeline, which would have transported crude from Canada to the US Gulf of Mexico, featured proponents who trumpeted the value of relying on a friendly source of oil and sceptics who insisted that the origin of US oil imports doesn't matter. Throughout the world, many still worry that dependence on the Persian Gulf leaves countries exposed to blackmail; other analysts, though, insist that markets have rendered such threats impotent.
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