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Author: Daniel O'Sullivan
Publisher: Harriman House Limited
ISBN: 190665977X
Category : Business & Economics
Languages : en
Pages : 187
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Book Description
The spike in the oil price to almost $150 per barrel in summer 2008 was the last great excess of the crazed noughties bull markets, staged even as stock markets crumbled worldwide. Contrary to entrenched establishment opinion still embraced by many, 'Petromania' proves this oil price blowout was a classic speculative bubble, but driven primarily by new modes of financial speculation. Demolishing widespread, oft-repeated but incorrect arguments that such trade in paper barrels cannot move oil prices, 'Petromania' details how this financialisation of the oil markets meshed with other trends to create a moment that saw investment banks and hedge funds collectively wield more power over the price of black gold than OPEC or any multinational oil company. It also shows how regulatory blindness to the 'dark matter' of modern finance caused so many to confuse fantasy with reality for so long. 'Petromania' matters not just because fortunes were won and lost in oil's dizzying ascent and crash, but because this bubble spelled misery for ordinary people worldwide, destabilised developing world governments, and delayed interest rate cuts desperately needed to address the ongoing global recession. 'Petromania' matters because while all eyes are on the crippled banking system, we risk ignoring valuable lessons about twenty-first century markets from this other great boom-and-bust - even as the forces that blew the bubble are once again at work. And 'Petromania', this tale of black gold, dark matter and paper barrels, is written by one of the few commentators who correctly called the bubble before it burst.
Author: Daniel O'Sullivan
Publisher: Harriman House Limited
ISBN: 190665977X
Category : Business & Economics
Languages : en
Pages : 187
Get Book Here
Book Description
The spike in the oil price to almost $150 per barrel in summer 2008 was the last great excess of the crazed noughties bull markets, staged even as stock markets crumbled worldwide. Contrary to entrenched establishment opinion still embraced by many, 'Petromania' proves this oil price blowout was a classic speculative bubble, but driven primarily by new modes of financial speculation. Demolishing widespread, oft-repeated but incorrect arguments that such trade in paper barrels cannot move oil prices, 'Petromania' details how this financialisation of the oil markets meshed with other trends to create a moment that saw investment banks and hedge funds collectively wield more power over the price of black gold than OPEC or any multinational oil company. It also shows how regulatory blindness to the 'dark matter' of modern finance caused so many to confuse fantasy with reality for so long. 'Petromania' matters not just because fortunes were won and lost in oil's dizzying ascent and crash, but because this bubble spelled misery for ordinary people worldwide, destabilised developing world governments, and delayed interest rate cuts desperately needed to address the ongoing global recession. 'Petromania' matters because while all eyes are on the crippled banking system, we risk ignoring valuable lessons about twenty-first century markets from this other great boom-and-bust - even as the forces that blew the bubble are once again at work. And 'Petromania', this tale of black gold, dark matter and paper barrels, is written by one of the few commentators who correctly called the bubble before it burst.
Author: Terry Lynn Karl
Publisher: Univ of California Press
ISBN: 0520207726
Category : Business & Economics
Languages : en
Pages : 362
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Book Description
In these countries, dependence on petroleum leads to disproportionate fiscal reliance on petrodollars and public spending, at the expense of statecraft.
Author: Alireza Fakhrkonandeh
Publisher: Taylor & Francis
ISBN: 1000845923
Category : Literary Criticism
Languages : en
Pages : 412
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Book Description
The first to focus on the (re-)presentations of oil in dramatic literature, theatre, and performance, Oil and Modern World Dramas is a pioneering volume in the emerging field of Oil Literatures and Cultures, and the more established field of World Literatures. Through close analysis, Fakhrkonandeh demonstrates how these dramatic works depict oil, both in its perceived nature and character, as an overdetermined matter/sign/object: a symbol (of freedom, autonomy, speed, wealth, modernity, enlightenment), a commodity, a social-cultural agent, a social relation, and a hyper-object. This book is also distinguished by its innovative and critically manifold conceptual framework, positing the petro-literatures and petro-cultures an inextricable part of a global network. Oil and Modern World Dramas not only demonstrates how the chosen works of petro-drama manifest these concepts in their social-political vision, aesthetics and historical-ontological dynamics, but also reveals how they deploy such assemblage-based approaches both as a cartographical means and aesthetic method for exposing the systemic (Capitalocenic) nature of petro-capitalist exploitation, and as means of proposing ways of resistance and producing alternative modes of subjectivity, community, relationality, and economy.
Author: J.M. Van Brabant
Publisher: Springer Science & Business Media
ISBN: 9401107920
Category : Business & Economics
Languages : en
Pages : 374
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Book Description
This volume in essence continues my recent contributions towards building up a better understanding of the wide range of obstacles besetting the transitions away from administrative planning in the former communist regimes in the eastern part of Europe. It is self-contained, however. As such, it specifically addresses issues revolving around how best to govern economies, and indeed societies more generally, that are undergoing fundamental structural transfor mation, and whether industrial policy can facilitate progressing with the vexing transformations that will have to be enacted over a protracted period of time. Because of the bewildering variety of hindrances that the managers of the transition have been confronted with, many of which were not even contem plated when the programs were first designed, regaining a measure of good governance, including notably good economic governance, is critical in formu lating a positive pOlitical economy of transition. Arguably most critical is steering the processes of destruction and creation-not 'creative destruction' in the Schumpeterian sense. In some cases, this requires reallocating decom missioned resources, both capital and labor, to new activities. Changing rules on the utilization of existing assets is evidently at the core of what the transi tion towards market-based economic systems should be all about Very often, however, this requires establishing new economic activities from domestic and foreign savings.
Author: Elisa Mattiello
Publisher: Cambridge University Press
ISBN: 1009168282
Category : Language Arts & Disciplines
Languages : en
Pages : 255
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Book Description
Based on corpus data, this book provides a comprehensive analysis of a morphological phenomenon in Modern English, Combining Forms (CFs).
Author: Janice Baker
Publisher: Taylor & Francis
ISBN: 1000888304
Category : Art
Languages : en
Pages : 160
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Book Description
Museums, Art and Inclusion in a Climate Emergency considers the impact of the Anthropocene on history and memory, approaches to objects and agency and the incommensurability of western and Indigenous ontologies. Drawing on Indigenous knowledge, humanities and museological literature, continental philosophy, contemporary art and popular culture, Baker acknowledges the autonomous agency of geological forms, including soils, minerals and fossil fuels. Demonstrating that this has implications for an expanded idea of an ‘inclusive’ museum and its relationship to entities beyond ‘life’ and living species, the book argues that the ‘inclusion’ paradigm needs to include nonlife actors. Gesturing to a geontological ‘turn’ through developing notions of geo-inclusion, the mineralhuman and approaches to object agency that connect with Aboriginal ‘heritage’, Baker exposes the ongoing destruction of Country by mining interests in Western Australia and elsewhere. By addressing the need for urgent change through the artifice of the museum, the book identifies an expanded approach to inclusion beyond the limits imposed by the politics of identity. Museums, Art and Inclusion in a Climate Emergency theorises the potential of an expanded idea of the museum and will be of interest to scholars and students engaged in the study of museums and heritage, environmental humanities and geo-humanities, ecological art history and contemporary art.
Author: Louise E. Walker
Publisher: Stanford University Press
ISBN: 0804784574
Category : History
Languages : en
Pages : 342
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Book Description
When the postwar boom began to dissipate in the late 1960s, Mexico's middle classes awoke to a new, economically terrifying world. And following massacres of students at peaceful protests in 1968 and 1971, one-party control of Mexican politics dissipated as well. The ruling Institutional Revolutionary Party struggled to recover its legitimacy, but instead saw its support begin to erode. In the following decades, Mexico's middle classes ended up shaping the history of economic and political crisis, facilitating the emergence of neo-liberalism and the transition to democracy. Waking from the Dream tells the story of this profound change from state-led development to neo-liberalism, and from a one-party state to electoral democracy. It describes the fraught history of these tectonic shifts, as politicians and citizens experimented with different strategies to end a series of crises. In the first study to dig deeply into the drama of the middle classes in this period, Walker shows how the most consequential struggles over Mexico's economy and political system occurred between the middle classes and the ruling party.
Author: Øystein Noreng
Publisher: Routledge
ISBN: 1000467155
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
National oil companies are big business with about 80 percent of the world’s proven oil reserves, and they are crucial to the world’s energy supplies. They are giants, some of the world’s largest companies, measured by market capitalisation, cash flow and investment. Little is known about their modus operandi, how they make decisions about investment and production or about relations with their government-owners. However, it is known that they conduct business with a political mandate, often with multiple long-term objectives, broadly defined and hard to quantify. Unclear mandates give national oil companies leeway to pursue their own distinctive interests, apart from those of the government-owner. As investors, governments are less zealous than private investors. They generally observe multiple objectives, not only return on capital. Therefore, the senior management of national oil companies enjoy more discretionary power and consider longer time horizons than their counterparts in the private sector. The Oil Business and the State explains the practice of state ownership in a capital-intensive industry with high risks and high return, and how these companies act in a market with imperfect competition. This book looks to give readers more insight into the oil industry, into the background of oil exporting countries as well as the economic and political challenges confronting them, including problems of state ownership. The book discusses wider consequences of China replacing the United States as the world’s leading oil importer. It will be of interest to researchers, academics and students in the fields of international business, management history, corporate governance, political economy and economic development of oil-rich countries.
Author: Ståle Knudsen
Publisher: Berghahn Books
ISBN: 1800738749
Category : Business & Economics
Languages : en
Pages : 353
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Book Description
Through a series of case studies in diverse regions of the world, this book explores how transnational Norwegian energy and extractive industries handle corporate social responsibility (CSR) when operating abroad in places such as China, Brazil, and Turkey. With significant state ownership and embeddedness in the Nordic societal model, Norwegian capitalism is often represented as “benign” or ethical. By tracing CSR policy and practice—from headquarters to operations—this volume critically explores the workings of Norwegian corporate capitalism and its engagement with key issues of responsibility, accountability, and sustainability.
Author: Xiaoshan Yang
Publisher: BRILL
ISBN: 1684173876
Category : History
Languages : en
Pages : 325
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Book Description
"The Chinese garden has been explored from a variety of angles. Much has been written about its structural features as well as its cosmological, religious, philosophical, moral, aesthetic, and economic underpinnings. This book deals with the poetic configurations of the private garden in cities from the ninth to the eleventh century in relation to the development of the private sphere in Chinese literati culture. It focuses on the ways in which the new values and rhetoric associated with gardens and the objects found in them helped shape the processes of self-cultivation and self-imaging among the literati, as they searched for alternatives to conventional values at a time when traditional political, moral, and aesthetic norms were increasingly judged inapplicable or inadequate. The garden was also an artifact and a locus for material culture and social competition. Focusing on a series of anecdotes about private transactions involving objects in gardens, the author dissects the intricate nexus between the exchange of poetry and the poetry of exchange. In tracing the development of the private urban garden through the writings of Bai Juyi, Su Shi, Sima Guang, and their contemporaries, the author argues that this private space figured increasingly as a place of disengagement for those out of political power and hence was increasingly invaded by political forces."
