Buckle Up!
Tim Barker: Oil Prices, 1 June 2017
Crude Volatility: The History and the Future of Boom-Bust Oil Prices
by Robert McNally.
Columbia, 300 pp., £27.95, January 2017,978 0 231 17814 3 Show More
by Robert McNally.
Columbia, 300 pp., £27.95, January 2017,
“... was spare capacity: control over existing oilfields that could be brought on line when demand rose and shuttered when demand fell. At one point, Rockefeller’s Standard Oil had occupied this role; in the Opec era, Saudi Arabia did its best. But the role of swing producer exacts serious costs. You have to be willing to buy dear and sell cheap, because the ... ”