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Nationalism is added to the oil mix

Posted by Matt in December 13th, 2006

Western producers are pressured to adapt to new terrain.

PARIS: Tension in the Middle East and demand from the roaring economies of India and China have already caused the price of oil to surge this decade. Now, the oil market has a new force to reckon with: nationalism.

Oil-producing countries are seizing domestic resources that were once shared with international oil companies, bolstering national corporate giants and even starting to buy energy assets abroad. Taken together, this wave of so-called energy nationalism is likely to continue to keep oil prices high next year, and beyond, analysts say.

Link to this article.

Published in Oil, general

Map for New-Delhi, India

[Countries link to CIA Factbook. States link to Wikipedia.]


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