| Description |
1 online resource (196 pages) |
| Contents |
Intro -- Foreword: Seeking Less Uncertainty -- References -- Introduction -- Highlighting Challenges -- Objectives and Structure of the Book -- References -- Contents -- Editor and Contributors -- 1 Institutional Theory and Oil Prices: Ceci est ne pas un Marché? -- Introduction -- Modes of Institutionalism -- Sociological Institutionalism -- Rational Choice Institutionalism -- Historical Institutionalism -- To Sum up -- Informal Institutions and Formal Institutions -- Can Something that Moves Minute by Minute Be an Institution? -- Oil Prices as the Independent Variable |
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Institutionalization and Deinstitutionalization -- Conclusions -- References -- 2 The Oil Price and Resource-Society Interaction -- Introduction -- Focus on Morphological Resource Structures: The Scarcity-Based Approach -- Evolutionary Perspective on Resources -- From Resource Regimes to Environmental Economics -- Sociological Concepts Integrated into Natural Resource Political Economy -- Classification of Resource-Society Approaches -- References -- 3 Oil, Between Monopolies and Free Market -- Introduction -- Nineteenth-Century Product, but Still Leading Today to the Same Conclusions |
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Life Changing Oil -- Why Is Oil Essential? -- Achnacarry and the Price Control -- The Oil Trauma -- The Oil Counter-Shock -- OECD Policies and Measures for Keeping Oil Prices Under Control -- IEA Strategic Oil Stocks -- The Volatility Period -- The New Oil Paradigm and its Consequences -- Unknown Resources and Limitless Reserves -- Shale Oil: The Emblem of Technology Development -- Oil Remains Irreplaceable -- What's Next for IOCs? -- What's Next for Crude Prices? -- References -- 5 Petroleum Conspiracies: How Russian Policymakers Seek Meaning in Oil Price Volatility -- Introduction |
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Living in Denial: The Russian Petrostate and Popular Self-image -- Economic Wishful Thinking: Predictions of Oil and Gas Prices -- Making Sense of Chaos: Three Tropes of Oil Price Semantics -- Blind-Blaming -- Securitization -- Scapegoating -- Conclusions -- References -- 6 Oil Prices in Investment Arbitration, Partial Assimilation -- Introduction -- General Concepts -- Increases in Government Take, Acceptance and Acquiescence -- Case Law -- Acquiescence -- On the Issue of Damages -- Conclusion -- References |
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7 Pricing Security or Pricing Perceptions: Differences in Energy Security Perspectives of Oil and Gas -- Introduction: Price as an Institution. Perception of Price and Securitization -- Threat Perception and Its Application to Energy Price -- Oil and Its Price in Central and Eastern Europe -- Asymmetries of Dependence and Its Perception in Oil Versus Gas -- Future and Outlook of Pricing Oil and Gas, not so Silent Energy Revolution -- Conclusion -- References -- Conclusion -- Natural Resources are What Societies Make of Them -- Focus on Embeddedness: Markets are Shaped by Their Stakeholders |
| Summary |
This book defines oil price as a social institution that exists beyond supply-demand mechanisms. Discussing oil markets in the context of the broader sociology of prices, it covers a number of theoretical and practical dimensions, such as new market uncertainties and trends, and social perceptions of energy security and of power. Further, based on case studies it explores the implications for OPEC, Russia, and Central and Eastern Europe, as well as for the energy transition and for international investment arbitration. Featuring contributions from leading academics, researchers and business professionals, the book offers an interdisciplinary perspective on the oil price. "This book brings together an impressive team of scholars with fresh perspectives on the oil price. Even as the world attempts energy transition, oil consumption continues and the oil price is likely to become even more unpredictable and unclear than in the past. This book helps make sense of this challenging topic."--Indra Overland is a Research Professor and Head of Centre for Energy Research, Norwegian Institute of International Affairs (NUPI) "A revealing and multidimensional analysis of oil price fluctuations in a market that seeks less uncertainty. This book discusses market and price evolution in the context of market theories, history and real-time market analysis. A welcome and timely contribution to our understanding of global energy markets." Dr. Sara Vakhshouri is Founder and President of SVB Energy International and Professor of Energy Security at the Institute of World Politics |
| Bibliography |
Includes bibliographical references |
| Notes |
Economic and Social Institutions Differentiated |
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Print version record |
| Subject |
Petroleum products -- Prices.
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Petroleum products -- Prices -- Social aspects
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Petroleum products -- Prices
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| Form |
Electronic book
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| Author |
Belyi, Andrei V., 1975-
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| ISBN |
9783030290894 |
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3030290891 |
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9783030290900 |
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3030290905 |
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9783030290917 |
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3030290913 |
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