| Description |
1 online resource (245 pages) |
| Contents |
Intro -- Contents -- List of Figures -- List of Tables -- Chapter 1: Introduction -- 1 Introduction -- 1.1 MENA (Middle East and North Africa) -- 1.2 What This Book Is About -- 2 MENA and World Oil Markets -- 3 Resource Curse and Institutions -- 4 Democracy in MENA -- 5 MENA and Alternative Sources of Energy -- 6 Reducing the Demand for Oil -- 7 The Population Threat -- 8 Why the Status Quo Is Unsustainable -- 9 Oil as a Path to Institutional Change in MENA -- 10 Positive Directions for Reform -- Reference -- Chapter 2: MENA and World Oil Markets -- 1 Introduction -- 2 OPEC Then and Now |
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2.1 Brief History of OPEC World Oil Markets -- 2.2 Middle East Share of OPEC's Oil in the World Economy -- 3 Price Leadership Within OPEC -- 4 Conclusion -- References -- Chapter 3: Resource Curse and Institutions -- 1 Introduction -- 2 The Resource Curse -- 2.1 Hypotheses and Concepts -- 2.2 Empirical Evidence -- 3 Institutions -- 3.1 Do Institutions Matter? -- 3.2 Extractive and Inclusive Institutions -- 3.3 Institutional Problems in MENA -- 4 Conclusion -- References -- Chapter 4: Democracy in MENA -- 1 Introduction -- 2 State of Democracy and Freedom in the World and MENA |
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3 Why Is Democracy So Rare in MENA? -- 3.1 Values and Culture -- 3.2 Economic Development -- 3.3 Religion -- 3.4 Preference for Democracy -- 4 Autocracy in MENA -- 4.1 Effect of Modernization -- 4.2 Survivability of Autocracies -- 5 Summary and Conclusion -- References -- Chapter 5: MENA and Alternative Sources of Energy -- 1 Introduction -- 2 Present Threats to Oil MENA Exporting Economies -- 2.1 Shale Oil and Gas Development or "Fracking" -- 2.1.1 History -- 2.1.2 Fracking Today -- 2.2 Increased Discovery of New Oil and Natural Gas Deposits -- 3 Threats to Oil MENA from New Sources of Energy |
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3.1 Methane Hydrate Deposits -- 3.2 Energy from Nuclear Fusion -- 3.3 Energy from Thorium Reactors (Whitman 2017) -- 3.4 The Traveling Wave Reactor -- 4 The Threat of Renewables to Oil MENA -- 4.1 Competition Against MENA Oil -- 4.2 The Cost of Renewables -- 4.3 Social Pricing of Fossil Fuels -- 4.4 Renewable Energy in MENA -- 5 Conclusion -- References -- Chapter 6: Reducing the Demand for Oil -- 1 Introduction -- 2 Production, Consumption, and US Imports of Oil -- 3 Benefit Principle -- 3.1 Infrastructure: Roads and Bridges -- 3.2 External Costs of Oil Use for Transportation |
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3.3 Military Costs of Protecting Middle East Oil -- 3.4 Full Application of the Benefit Principle -- 3.4.1 Applying the Benefit Principle with Taxes on Gasoline -- 3.4.2 Other Uses of Oil -- 4 Hotelling Principle and Optimal Future Extraction of Oil Limited by Climate Change Mitigation -- 4.1 The Paris Agreement -- 4.2 Intergovernmental Panel on Climate Change (IPCC) -- 4.3 Limitations of the Analysis -- 5 Policy to Lessen the US Demand for Gasoline -- 6 Summary and Conclusion |
| Summary |
This book addresses the factors that have led to the lackluster economic performance of the oil MENA region, despite the wealth of its vast natural resource. It offers a radical policy recommendation as a way out. Using data from a wide variety of sources, it analyzes the major problems that confront the governments of the MENA region, and make the case why the status quo is unsustainable. Recently, Algeria has shown that people will tire of the status quo and will demand wholesale changes. At the core of the problem of corruption, rent seeking, waste, and lack of economic diversification, is the presence of oil and its control by the state. But oil by itself should help, not hinder MENAs economic development. While historically, oil revenues may have contributed to the maintenance of corrupt institutions and rent seeking among oil-rich nations, the mere presence of such valuable natural resources need not be the problem. It argues for a plan to empower citizens and invert the power relationship, so that the citizens voices matter. For the spirit of the Arab Spring to be successful, the region must adopt significant institutional changes that embrace the rule of law, transparency, democratic accountability, and the protection of human and private rights |
| Notes |
A. Appendix: Estimating the Optimal Rate of Extraction of Oil Given the Limitations of the Paris Agreement and IPCC Report on Climate Change |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Print version record |
| Subject |
Oil industries.
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Oil industries
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| Form |
Electronic book
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| Author |
Miller, Dennis Dixon
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Faulkner, John Leonard
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| ISBN |
9783030259334 |
|
3030259331 |
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3030259315 |
|
9783030259310 |
|
9783030259327 |
|
3030259323 |
|
