| Publication |
2012.
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| Summary/Abstract |
This article has been constructed under the premise that International Political Economy provides the appropriate analytical tools for understanding the characteristics and performance of oil in economic and political relations. The article argues the need to articulate three levels of analysis (major players, scenarios, and exchange mechanisms) in order to understand the economic and political relations that underpin oil exchange during last decades. The central conclusion is that the current oil system is characterised by a set of asymmetric, unstable, and ungovernable relations, whose consequences are unpredictable but not necessarily traumatic.
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