Who Governs Global Oil Prices?
If we agree that diamonds, malachite and tantalite are a curse for D.R. Congo, then oil must be the penultimate stained Holy Grail of the entire world. It aids Middle Eastern dictators in their bids to be the last ... ... formulated by a cost-plus system for crude and now net-back for other petroleum products. Again, the seven sisters preferred long-term contracts and also used modern concessional tools to account for socio-economic factors. But, in 1969 to 1973 a major ...