The New 'Oil Nationalism' Reduces the Scope for Increasing Production Capacity

摘要

The emergence over the past four years or so of a so-called "oil nationalism" or "resource nationalism" is generally perceived in consuming countries as a threat both to international investments and to the security of hydrocarbon supplies.Some people go so far as to draw a parallel between,on the one hand,the new changes that are affecting international oil relations and,on the other hand,the great upheavals of the 1970s - nationalizations,an embargo,the growing clout of OPEC,and the oil price shock.To put things into proportion,some realities need to be stressed.