In 20th century society oil has played a fundamental role not only from theeconomic point of view but also from the point of view of the politicalrelationships ... » 

In 20th century society oil has played a fundamental role not only from theeconomic point of view but also from the point of view of the politicalrelationships established between major Western countries and oilproducingcountries. A survey into oil history its market dynamics and price evolutionis essential for a deeper understanding of modern industry and world economyas world development depends on oil supplies prices and its politicalaccessibility. Oil Economics and Policy follows the historical development ofthe oil industry and inevitably also covers many aspects of energy resourceeconomy. In so doing it pays particular attention to one aspect namely thefixing of oil prices. This is mainly in order to attempt to understand whetherand by how much the structural transformations that the oil industry hasundergone during the various phases of its existence and the various marketstructures deriving from them have influenced the dynamics of oil prices.Alberto Cl is Professor of Industrial Economics at the University of Bologna.Minister of Industry and Trade during Lamberto Dinis government January 1995May 1996 he has been a member both of national and international scientificboards and of ministerial committees. He is author of numerous writings onindustrial and energy economies and editorinchief of the journal Energia. «