"OIL & WORLD POWER" (PETER ODELL).   Term Paper ID:20141 Click to get this paper

Essay Subject: Critical review of overview of global oil industry through 1986.... More...

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Paper Abstract: Critical review of overview of global oil industry through 1986. Paper Introduction: This study will provide a book review of Peter R. Odell's Oil and World Power. Odell has set an ambitious task for himself. Not only does he attempt to present and analyze the role of oil in the world, he at the same time is revising an earlier work (the book was originally published in 1970, before the oil crises of the early 1970s) which without such revision would have seemed largely out of date. The unrevised work would have doubtless had historical significance, but it would not have been particularly useful in understanding the oil situation in the world in the 1990s. The author's credentials are impressive, but they might also be questioned with respect to his potential biases. He puts his connections on the table immediately in the Preface to the book: "The first edition of this book . . . emerged (in 1970) from some Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. Odell has generally accomplished most of the ambitiousgoals he sets for himself in this book. We see, then, that even with world events sometimes inevitablyleading to required updates on parts of Odell's book, a great majority ofthe book remains pertinent as historical background to more contemporaryevents. While the Soviet Union stillcommands tremendous oil reserves, its shattered political and economicpositions radically alter its role in the oil industry and the future ofits involvement at every level of international or regional affairs.Again, such shifts and crises cannot be predicted by Odell, but theynevertheless call for the kind of ongoing updating and revising -he seemswilling to provide. This lesson is a pertinent one even withthe sometimes-outdated information Odell provides. This is not to say that Odell deliberately seeks to mislead thereader. The author's credentials are impressive, but they might also bequestioned with respect to his potential biases. One of the most significant and effective of Odell's contributions tothe subject is his ability to show how events around the world affect theoil industry in unexpected ways. For suchfirms, continuously seeking to curry public favor, reduce taxes, and enjoyother benefits politically, socially, and economically, it would be totheir advantage to be seen as weaker than they actually are. Oil and World Power. . For example, he writes that inthis book, the eighth edition, Chapter 1 "has been rewritten toincorporate an analysis of changes over the past three years in OPEC's(Organization of Petroleum Exporting Countries) role and influence. Not only does heattempt to present and analyze the role of oil in the world, he at the sametime is revising an earlier work (the book was originally published in197 , before the oil crises of the early 197 s) which without such revisionwould have seemed largely out of date. It isconcerned almost exclusively with the period of more than 4 years sincethe end of the Second World War" (Ibid. For example, other works on the oil industry after the crises of the197 s have argued that the U.S.-based oil companies have regained some lostpower or have learned to effectively adapt to increased OPEC power. Specifically, Odell writes that his book means to make clear thecrucial nature of oil's role in the life of the planet: "A day rarelypasses without oil being in the news. The book is not a particularly exciting work to read. . Heaims to give a rough history of the oil industry in the world in the modernera, primarily in the last half of the 2 th century, its evolution andmajor trends and changes, and to adjust his vision in print every few yearsto keep the book relevant and accurate. Odell presents this book as the latest in a series of revised andupdated works which will likely continue into the future as required. Meanwhile, . . The unrevised work would havedoubtless had historical significance, but it would not have beenparticularly useful in understanding the oil situation in the world in the199 s. New York: Penguin, 1986.----------------------- 6 It is inevitable that a work on the oil industry in its internationalimplications will be quickly eclipsed in part by crises of various sorts,but the kind of broad-based study provided by Odell, both historical andstatistical, will always be worthwhile in giving those crises a widercontext. The book is somewhat weakened by certain facts already mentioned,including the break-up of the Soviet Union. Often the significance of such newsitems is not apparent in isolation or without some background knowledge ofthe way in which the industry has been and is organized internationally,and of its impact upon individual countries and groups of countries . . 5 ). How does one truly know what is going on behind the scenesin the oil industry? Odell goes on to acknowledge consultancies and government connectionswhich might further compromise his analysis of the industry. Thepoint here is that Odell immediately acknowledges those connections andappreciates them, using them not to present a biased viewpoint favoring theoil industry at every turn but rather to demonstrate his deep knowledge ofthe field and his desire to do everything he can to improve the industry insuch a way that the world benefits as well. .This book aims at providing such a background by describing and analyzingthe oil industry's affairs and relationships around the world. We are only now beginning to know the facts behindthe invasion of Kuwait by Iraq and the Persian Gulf War, facts whichindicate a deep American commitment to oil companies in Saudi Arabia asmuch as to the freedom of the people of Kuwait. Odell,however, paints a picture in which the power of oil companies based in theUnited States is considerably diminished and will continue to be reduced.In fact, Odell reveals some conservative bias, perhaps, when he seems to bewarning against the installation of a Democratic administration. . At the same time, even with the updating and revising --- through1986 --- the book misses some of the major events in the world which haveaffected or threatened to affect the entire oil industry worldwide in theinterim, including the break-up of the Soviet Union and the Persian GulfWar, subsequent to the takeover of Kuwait by Iraq's Saddam Hussein. It would be impossible to understand the effects of the Iraqiinvasion of Kuwait and the Persian Gulf War without first understanding thekind of background material provided by Odell. While Odell does try to keep his biases and connections "on thetable," so to speak, he does make some statements which are difficult toverify and which might tend to downplay somewhat the role that U.S.-basedoil companies continue to play in the world. In this context, the author writes, "This pessimism will become aneven stronger possibility if the second Reagan administration, which isthought to have favored its 'friends' in the industry, is followed by aDemocratic government . Odell has set an ambitious task for himself. . 1 ). It is to say that the reader who seeks the truth on such a complexand difficult subject as the oil industry will not swallow whole everythinghe or she is told by an "expert" in the field, nor will he or she go toonly one source --- no matter how unbiased that source might be --- inorder to learn everything crucial about such a field. We must be reasonablyskeptical of a man such as Odell.who has a long-term connection on a numberof levels with the oil industry,when he tells us that the power of U.S.-based oil firms has been significantly diminished forevermore. It is notessential --- and, in fact, probably impossible --- to have an author whohas no potentially compromising connections with respect to his subject.It is, to the contrary, desirable that an author have the greatestfamiliarity with his subject, and such familiarity usually requiresconnections which would possibly compromise that author's objectivity. Again, the average reader is simply not going to know the accuracy ofthis statement. emerged (in 197 ) from some thirteen years of the author'sincreasing familiarization with the oil industry, first as an employee ofShell, the world's second largest and most international of oil companies,and then as a student and observer of its continued growth both in size andcomplexity" (Odell 9). This study will provide a book review of Peter R. He puts his connectionson the table immediately in the Preface to the book: "The first edition ofthis book . Therest of the book was initially revised and updated to late 1985 but, giventhe traumatic changes in the world oil situation and prospects after mid-January 1986, a postscript was added in May 1986, as Chapter 11, to providea preliminary interpretation of these recent events" (Ibid. the oil companies have lostmuch of the control they hitherto exercised over the international oilsystem and this development, too, given the 'American-ness' of the oilcompanies, constitutes a deterioration for the United States in respect ofits role in the world of oil power" (Ibid. . 11). In fact, the very factthat information and analyses related to the oil industry are so quicklyoutdated indicates the accuracy of Odell's observations. Works CitedOdell, Peter R. It is at timesvery technical, and the author does not have a fascinating writing style.The book, therefore, cannot be said to be aimed at an audience of laypeoplebut rather at a readership well versed and deeply, probably professionally,interested in the subject. Odell's Oil andWorld Power. . Considerable space throughoutthe book, including one lengthy chapter, is dedicated to an analysis of theUSSR as a major oil player in the world. It is clearly valuable material for suchreaders --- as well as for any layreaders who are ready for a difficult andtechnical read --- in that the book is rich with data and analysis whichcan only be provided by an insider and a professional committed to thefield. . If this paper is not what you are looking for, you can search again: Search for: or Click here to request an essay written just for you.

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