Counter-shock (the Oil Counter-revolution Of The 1980s)

Edited by Basosi Duccio; Edited by Garavini Giuliano; Edited by Trentin Massimiliano
Description
The oil price collapse of 1985-6 had momentous global consequences: non-fossil energy sources quickly became uncompetitive, the previous talk of an OPEC ''imperium'' was turned upside-down, the Soviet Union lost a large portion of its external revenues, and many Third World producers saw their foreign debts peak. Compared to the much-debated 1973 `oil shock'', the `countershock'' has not received the same degree of attention, even though its legacy has shaped the present-day energy scenario. This volume is the first to put the oil `counter-shock'' of the mid-1980s into historical perspective. Featuring some of the most knowledgeable experts in the field, Counter-Shock offers a balanced approach between the global picture and local study cases. In particular, it highlights the crucial interaction between the oil counter-shock and the political `counterrevolution'' against state intervention in economic management, put forward by Ronald Reagan and Margaret Thatcher in the same period.
Table of contents
List of Illustrations List of Contributors Introduction: Counter-shock and counter-revolution by Duccio Basosi, Giuliano Garavini and Massimiliano Trentin PART I: OIL PRICES IN CONTEXT 1. Price regimes, price series and price trends: oil shocks and counter-shocks in historical perspective by Giovanni Favero and Angela Faloppa 2. The role of the dollar and the justificatory discourse of neoliberalism by David E. Spiro 3. The oil market and global finance in the 1980s by Catherine R. Schenk 4. Counter-shocked? The oil majors and the price slump of the 1980s by Francesco Petrini PART II: THE PRODUCERS: OPEC 5. Saudi Arabia and the counter-shock of 1986 by Majid Al-Moneef 6. Iran and the counter-shock: oil as a weapon (for survival) by Claudia Castiglioni 7. Iraq, Saudi Arabia, and the counter-shock by Ibrahim Al-Marashi PART III: THE PRODUCERS: NON-OPEC 8. Abandoning enforced autarky for re-insertion in the world petroleum market: Mexican oil policy, 1976-86 by Juan Carlos Boué 9. The double shock: the Soviet energy crisis and the oil price collapse of 1986 by Olga Skorokhodova 10. The counter-shock in Norwegian oil history by Einar Lie and Dag Harald Claes 11. Counter-shock or after-shock? North Sea oil and economics as politics in the UK, 1973-86 by Martin Chick PART IV: THE CONSUMERS 12. Reducing dependence on OPEC-oil. The IEA’s energy strategy between 1976 and the mid-1980s by Henning Türk 13. The United States and the oil price collapse of the 1980s by Victor McFarland 14. Back to the future: changes in energy cultures and patterns of consumption in the United States, 1973-86 by Elisabetta Bini PART V: ENERGY AND ENVIRONMENTAL CHALLENGES 15. The rise of environmentalist movements and the debate on alternative sources of energy during the oil crisis in the United States by Angela Santese 16. The role of nuclear reactor technology on the development of the nuclear industry and decision making in the context of the price fluctuations of the 1970s and 1980s by Duncan Connors and Eshref Trushin 17. A small window. The opportunities for renewable energies from shock to counter-shock by Duccio Basosi Notes Bibliography Index
Review quote
The wide variety of perspectives adopted makes this volume complex and opens up important areas of future research ... A work that straddles economic history, political history and more specifically international relations, which illuminates in particular a significant historical junction to which contemporary history has not paid sufficient attention.
Review quote
An important book, thoroughly crafted/planned by its editors [and] co-written by 20 contributors, mostly foreign and Italian academics.
Biographical note
Duccio Basosi is Assistant Professor of History of International Relations at the Ca'' Foscari Universi