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    • Publisher:
      Cambridge University Press
      Publication date:
      18 December 2013
      16 January 2014
      ISBN:
      9781107323643
      9781107041998
      9781316633052
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.57kg, 268 Pages
      Dimensions:
      (229 x 152 mm)
      Weight & Pages:
      0.41kg, 268 Pages
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    Book description

    Oil is the world's most important commodity. It is also one of the most politicized, with national oil companies controlling most of the world's reserves. Contrary to conventional wisdom, Llewelyn Hughes shows that governments across the advanced industrial states responded to the politicization of oil in the 1970s by freeing prices, lowering barriers to trade, and privatizing national oil companies. How did this come about? And why do some governments continue to support domestic firms? In answering these questions, Hughes shows that the politicization of oil also led to a transformation in oil market governance by changing the balance of risk and opportunities facing firms. He also shows that their ability to benefit from this change was conditioned by previous attempts to shape the competitive landscape in their favor. Hughes' study has important implications not only for the politics of oil, but also for the study of economic liberalization.

    Reviews

    ‘Llewelyn Hughes has written a brilliant book about the transformation of the world’s energy markets. In Globalizing Oil, Hughes demonstrates that the interplay of governments and firms in the global market for oil requires an understanding of both politics and strategy. With extraordinary research and compelling argument, Hughes’ book provides insight into both.’

    Rawi E. Abdelal - Herbert F. Johnson Professor of International Management, Harvard Business School

    ‘Globalizing Oil is an invaluable contribution to the literature on global governance of the petroleum industry. Not since Louis Turner’s Oil Companies and the International System has such a monumental study been produced with the clarity and foresight on this vital issue. [Hughes'] comparative approach goes a long way in explaining critical domestic and foreign policy energy policy nuances that continue to influence the oil market to this day. A true tour de force!’

    Charles Ebinger - Senior Fellow and Director, Energy Security Initiative, The Brookings Institution, Washington DC

    ‘Despite the tremendous importance of oil for advanced economies, we know little behind the politics that led to the liberalization of domestic markets. Hughes' ambitious and insightful analysis fills this gap. For anybody interested in understanding how business power and government choices mutually shape each other over time, his book will be a required reading.’

    Cornelia Woll - Sciences Po Paris

    'Globalizing Oil: Firms and Oil Market Governance in France, Japan, and the United States is a well-written, theoretically compelling, and empirically-rich book written by Llewelyn Hughes. This book is essential for the scholars, corporations, policymakers, and students interested in the liberalization of the petroleum sector in the advanced industrialized economies.'

    Anastasia Ufimtseva Source: Academic Council of the United Nations System (www.acuns.org)

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    Contents

    Select bibliography

    France

    Industry and firm reports

    • Compagnie Française des Pétroles

    • Elf Aquitaine

    • Entreprise de recherches et d’activités pétrolières

    • Société nationale des pétroles d’Aquitaine

    • Société nationale elf aquitaine

    • Total

    Official documents

    Commission of the European Communities. “The Community Oil Market, Its Oil Refining Industry, and the External Trade in Petroleum Products.” COM (86) 263 final. May 13, 1986.
    Commission of the European Communities “The Development of an Energy Strategy for the Community: Communication from the Commission to the Council. Mandate of 30 May 1980.” COM (81) 540 final. October 2,1981.
    Commission of the European Communities “First Guidelines for a Community Energy Policy. Memorandum Presented by the Commission to the Council.” Bulletin of the European Communities, Supplement to No. 12–1968, COM (68) 1040 final. December 18, 1968.
    Commission of the European Communities “Guidelines and Priority Actions under the Community Energy Policy.” SEC (73) 1481 final. April 19, 1973.
    Commission of the European Communities “The Situation in the Oil Refining Industry and the Impact of Petroleum Product Imports from Third Countries.” COM (85) 32 final. March 1, 1985.

    Council of the European Communities. “The Internal Energy Market.” COM (88) 238 final.

    Commission of the European Communities “1171st Meeting of the Council – Energy,” June 2, 1987. May 2, 1988.

    Court of Justice of the European Union. “Commission of the European Communities vs. French Republic, Judgment of the Court of June 4, 2002.” C-483/99. ECR 2002: I-4781.

    Office National des Combustibles Liquides. Annales de l’Office National desCombustibles Liquides Vol. 1. Paris: Société d’éditions techniques, 1926.
    Special Council of Ministers of the European Coal and Steel Community. “Protocol of Agreement on Energy Problems, Reached Between the Governments of the Member States of the European Communities at the 94th meeting of the Special Council of Ministers of the European Coal and Steel Community.” Official Journal of the European Union. April 21, 1964: 1099–1100.

    Periodicals

    • International Petroleum Finance

    • Le Figaro

    • Le Monde

    • Oil & Gas Journal

    • Petroleum Economist

    • Petroleum Intelligence Weekly

    Japan

    Industry and firm annual reports

    Idemitstu Kosan. Idemitsu Sekiyu Shiryo Showa [Idemitsu Petroleum Materials]. Tokyo: Idemitsu, various years.
    Japan Oil, Gas and Metals National Corporation. Heisei 17-Nendo Keikaku [Corporate Plan for 2005] (Tokyo: JOGMEC, 2004.
    Keidanren. “Sekiyu Wo Chushin to Suru Enerugii ni Kansuru Yobo [Request in Relation to Petroleum and Other Energy Resources].” Tokyo: Keidanren, 1973.
    Sekiyu Kogyo Renmei. Wagakuni Sekiyu Kaihatsu no Genjo [The State of Japan’s Petroleum Development]Tokyo: Sekiyu Kogyo Renmei, various years.
    Commission of the European Communities“Wagakuni Sekiyu/Tennen Gasu Kaihatsu No Genjo to Mondaiten [Current State and Problems in Japan’s Petroleum and Natural Gas Development].”Tokyo: Sekiyu Kogyo Renmei, various years.
    Sekiyu Renmei. “Sekiyu Gyokai No Suii [Trends in the Petroleum Industry].”Tokyo: Sekiyu Renmei, various years.
    Commission of the European CommunitiesSekiyu/Enerugii Seisaku ni Kan Suru Teigen [Proposal Regarding Petroleum and Energy Policy]. Tokyo: Sekiyu Renmei, 1982.

    Official documents

    Ministry of International Trade and Industry. “Kongo no Sekiyu Seisaku no Hoko [The Current and Future Direction of Petroleum Policy].” Tokyo: Ministry of International Trade and Industry, 1978.
    Commission of the European Communities “Kongo no Sekiyu Sangyo no Arikata ni tsuite (Sanko Shiryo) [Internal Report: On the Future of the Petroleum Industry: Additional Material].” Tokyo: Ministry of International Trade and Industry, 1981.
    Ministry of International Trade and Industry “Motouri Kigyo no Shuyakuka ni Tsuite Chukan Hokoku [Interim Report on the Concentration of Wholesale Firms].” Tokyo: Ministry of International Trade and Industry, 1984.
    Ministry of International Trade and Industry “Sekiyu Ryutsu Bijon Kenkyukai – Chukan Hokoku: Shiryo 1: Shohisha Ni-zu ni Kansuru Giron Pointo [Interim Report of the Research Committee for a Vision for Petroleum Distribution: Materials 1: Summary of Debate on Consumer Needs].” Tokyo: Ministry of International Trade and Industry, 1984.
    Ministry of International Trade and Industry “Sekiyu Sangyo no Kozo Kaizen No Hoko to Sekiyu Sangyo no Arikata ni Tsuite [On the Direction of Structural Reform in the Petroleum Industry and the State of the Petroleum Industry].” Tokyo: Ministry of International Trade and Industry, 1985.
    Ministry of International Trade and Industry “Sekiyu Sangyo ni okeru Kozo Kaizen no Genjo to Kongo no Hoko [The Current State and Future Direction of Structural Reform in the Petroleum Industry].” Tokyo: Ministry of International Trade and Industry, 1983.
    Sekiyu Bukai. “Sekiyu Sangyo no Keiri Jokyo to Seihin Kakaku Mondai [On Problems Related to the Financial Position of the Petroleum Industry and Petroleum Product Prices].” Tokyo: Ministry of International Trade and Industry, 1981.
    Commission of the European Communities “Naibu Shiryo: Kongo No Sekiyu Sangyo No Arikata ni Tsuite [Internal Report: On the Future of the Petroleum Industry].” Tokyo: Ministry of International Trade and Industry, 1981.
    Sekiyu Kihon Mondai Kenkyukai. “Sekiyu Kihon Mondai Kenkyukai Chukan Hokokusho [Interim Report of the Research Committee on Fundamental Problems in Petroleum].” Tokyo: Ministry of International Trade and Industry, 1981.
    Sekiyu Sangyo Kihon Mondai Kentokai. “Sekiyu Sangyo Kihon Mondai Kentokai Hokokusho [Meeting Minutes of Report of the Deliberative Committee into the Petroleum Industry].” Tokyo: Ministry of International Trade and Industry, 1988.
    Sekiyu Shingikai Sekiyu Bukai Shoiinkai. “Naibu Shiryo: Hiaringu ni Okeru Kakushabetsu Iken [Internal Memorandum: Firm Positions in Hearing].” Tokyo: Ministry of International Trade and Industry, 1981.
    Commission of the European Communities “Hiaringu Kaitosho [Hearing Response Form].” Tokyo: Ministry of International Trade and Industry, May 30, 1985.
    Sekiyu Shingikai Sekiyu Bukai Shoiinkai “Hiaringu Kaitosho [Hearing Response Form].” Tokyo: Ministry of International Trade and Industry, June 3, 1985.
    Shigen Kenkyu Iinkai. “Hyo 8–3: Wagakuni no Chiiki Betsu, Shigen Betsu, Kaigai Kaihatsu Projekuto [Graph 8–3: Japan’s Overseas Development Projects by Region and Resource-type]. In Shigen Kenkyu Iinkai Kyoryoku Kaihatsu Mondai Senmon Iinkai: Shingi Ronten [Natural Resource Research Committee Cooperative Development Problems Specialist Committee: Debate Summary]. Tokyo: Ministry of International Trade and Industry, November 24, 1971.
    Commission of the European Communities “Hyo A-3: Kaigai Sekiyu Kaihatsu Jigyo Ichiran [Graph A-3: Overseas Petroleum Development Projects].” In Shigen Kenkyu Iinkai Kyoryoku Kaihatsu Mondai Senmon Iinkai: Shingi Ronten [Natural Resource Research Committee Cooperative Development Problems Specialist Committee: Debate Summary]. Tokyo: Ministry of International Trade and Industry, November 24, 1971.
    Sogo Enerugi Chosakai. “Kongo no Sekiyu Sangyo no Arikata ni Tsuite (Sanko Shiryo) [Internal Report: On the Future of the Petroleum Industry: Additional Material].” Tokyo: Ministry of International Trade and Industry, 1981.
    “Statement by Kaoru Yosano, Minister for International Trade and Industry,” on October 13, 1998, to the Economy and Industry Committee, Japanese House of Representatives.
    “Testimony of Keijiro Murata, Minister of International Trade and Industry,” on November 20, 1985, to the Committee on Commerce and Industry, Japanese House of Representatives.
    “Testimony of Takashi Nonouchi, Director General of Agency of Natural Resources and Energy,” on September 3, 1985, to the Committee on Commerce and Industry, Japanese House of Representatives.
    “Testimony of Yasuo Fukuoka, on November 20, 1985, to the Trade and Commerce Committee, Japanese House of Representatives.

    Periodicals

    • Asahi Shinbun

    • Shukan Toyo Keizai

    • Nihon Keizai Shinbun

    United States

    Industry and firm annual reports

    • Chevron

    • ChevronTexaco

    • Conoco

    • Exxon

    • Exxon Mobil

    Independent Petroleum Association of America. IPAA Oil and Gas Producing Industry in Your State. Washington, DC: IPAA, various years.

    • Mobil

    • Standard Oil (New Jersey)

    • Texaco

    Official documents

    Commodity Futures Trading Commission. US Interagency Taskforce on Commodities Markets, Interim Report on Crude Oil. Washington DC: CFTC, 2008.
    Department of the Interior. Report of the Commissioner of Corporations on the Petroleum Industry Vol. 1: Position of the Standard Oil Company in the Petroleum Industry. Washington, DC: Government Printing Offices, 1907.
    Commission of the European CommunitiesReport of the Commissioner of Corporations on the Petroleum Industry Volume II: Prices and Profits. Washington DC: Government Printing Offices, 1907.
    Department of State. “Message from the President of the United States Transmitting in Response to Senate Resolution No. 149 of February 13, 1924: A Report of the Secretary of State Relative to the Diplomatic Correspondence in Connection with Securing Oil Concessions for American Citizens between this Government and the Governments of Certain Foreign Countries Regarding Oil Concessions in those Countries.” Washington, DC: Government Printing Office, 1924.
    “Informal Memorandum.” American Embassy in Japan to the Japanese Ministry of Foreign Affairs, 893.6363 Manchuria 29, in FRUS Japan: 1931–1941 Volume I.
    “Oral Statements by the American Ambassador in Japan (Grew) to the Japanese Minister for Foreign Affairs (Hirota).” 893.6363 Manchuria/194, in FRUS Japan: 1931–1941 Volume I.
    Senate Committee on Foreign Relations. A Documentary History of the Petroleum Reserves Corporation 1943–1944. Washington, DC: US Government Printing Office, 1974.
    Senate Special Committee Investigating Petroleum Resources. American Petroleum Interests in Foreign Countries, 79th Congress, 1st session, 1945.

    Hearings

    • Committee on Energy and Commerce, United States House of Representatives

    • Committee on Interior and Insular Affairs, United States House of Representatives

    • Committee on Interstate and Foreign Commerce, United States House of Representatives

    • Committee on Resources, United States House of Representatives

    • Committee on Ways and Means, United States House of Representatives

    • Committee on Energy and Natural Resources, United States Senate

    • Committee on Finance, United States Senate

    • Committee on the Judiciary, United States Senate

    Periodicals

    • New York Times

    • Oil & Gas Journal

    • Washington Post

    Interviews

    France

    Olivier Abadie: Crude and Products Trader, Elf Aquitaine (1990–5)
    Olivier Appert: Director of Hydrocarbons (1989–93), Ministry of Industry
    Gilles Bellec: Director of Hydrocarbons (1984–9), Ministry of Industry
    Rene Chappaz: Chief Executive Officer, Total USA
    Gilles Darmois: Counselor to Martin Malvy, former State Secretary to the Minister of Industrial Redeployment and Foreign Trade, responsible for energy (1984–6); Advisor to the President of Elf Aquitaine (1991–4)
    Bertrand Deroubaix: Vice-President, Strategy and Business Intelligence Division, Total
    Dominique Finon: Senior Research Fellow, French National Center of Scientific Research
    Maurice Girault: Statistical Service, Department of Ecology, Sustainable Development, Transportation and Housing
    Jean-Daniel Levi: Energy Advisor to President Mitterrand (1982–8)
    Claude Mandil: Office of Prime Minister (1981–3); Directeur General énergie et Material Premierés, Ministry of Economy (1990–8); Executive Director, International Energy Agency (2003–7)
    Xavier Preel: General Manager, Total Exploration and Production, Total (1991–1996)
    Jean du Rusquec: Advisor to the CEO, Total
    Bruno Weymuller: Executive Vice-President, Total (2000–8)

    Japan

    Mitsuo Arai: Committee Member, Petroleum Council (2001–7)
    Hiroyuki Fukano: Director of Upstream Division (1998–2000), Ministry of Economy, Trade and Industry
    Nobuo Hata: General Manager, Planning and General Coordination Department, Petroleum Association of Japan
    Kazutomo Irie: Petroleum Division (1985–6), Ministry of Economy, Trade and Industry
    Akira Ishii: Chief Economist, Japan Oil, Gas and Metals National Corporation
    Kazuo Kawahara: Director, Petroleum Association of Japan
    Takeo Kikkawa: Committee Member, Petroleum Council (2001–)
    Shigeru Kikuchi: Deputy Manager, Overseas Operation Department, Idemitsu Kosan
    Nobuyori Kodaira: Director, Petroleum Planning Division (1995–6); Administrative Vice Minister, Agency for Natural Resources and Energy (2004–6), Ministry of Economy, Trade and Industry
    Hiroshi Kubota: Deputy Director General Oil and Gas Project Development Group, Japan Oil, Gas and Metals National Corporation
    Kentaro Morita: Deputy Director Upstream Division (2000–2), Ministry of Economy, Trade and Industry
    Masahisa Naito: Director, Petroleum Planning Division (1985–6), Ministry of Economy, Trade and Industry
    Taro Shoji: General Manager, Planning and Research Department, Japan Petroleum Development Association
    Shigeru Sudo: Former General Manager, Planning and General Coordination Department, Petroleum Association of Japan
    Katsuhiko Suetsugu: Member, Petroleum Council, Ministry of Economy, Trade and Industry
    Toshiaki Tanaka: Mitsubishi Oil and JOGMEC Technical Committee
    Tsutomu Toichi: Managing Director, Institute of Energy Economics Japan; Member, Petroleum Council, Ministry of Economy, Trade and Industry

    United States

    Guy Caruso: International Energy Agency (1993–8); US Energy Information Administration, Department of Energy (2002–8)
    Leonard L. Coburn: Director of the Office of Competition, Department of Energy (1972–92); Director of the Office of Oil Policy, Department of Energy (1992–6)
    Charlie Cooke: Professional Staff Member, United States House Committee on Science and Technology
    Charles Ebinger: Federal Energy Administration (1975–6)
    Alan Hegburg: Deputy Assistant Secretary for International Energy Policy, Department of Energy; Director of International and Geopolitical Analysis, Phillips Petroleum
    Bob McNally: Advisor, National Security Council and National Economic Council (2001–3)
    John Northington: Special Assistant to Assistant Secretary of the Interior for Land and Minerals, Department of the Interior (1998–2000)

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