Articles || Look at the Past

Texans shudder as price of petroleum falls.

This is just an example of how the US media reported on the 1986 crash. Now the oil industry is again amidst of an environment with many uncertainties.  We here bring to the attention of our readers a piece from the past… This article is originally by  Robert T. Garrett in AUSTIN — Declining oil […]

Oh… How times have changed

According to the BBC World News in “Oil trade strengthens US-Russian ties” from the 8th July 2002: “The first ever direct shipment of Russian oil to the US has reached the port of Houston. The delivery of 2 million barrels of crude oil, which arrived on the super tanker Astro Lupus, was organised by Yukos, […]

OPEC: A clearer view needed, not generalizations

“Between 1960 and 1970 OPEC produced over 162 million barrels”. This is the normal way in which we study history. However, there is something wrong with this approach. To explain… OPEC as an organisation has no way to produce petroleum: this is produced by the individual member countries. And during the period in question, OPEC […]

OPEC: “Union makes strength”

As it will soon be the Anniversary of OPEC, on 14th September, people are discussing just how it came into being. Outside Venezuela not many people know that a Venezuelan – Juan Pablo Pérez Alfonzo – is known as “the father of OPEC”, but can this really be the case after careful consideration of the […]