Title
Genie Out Of The Bottle: World Oil Since 1970
Delivery time: 8-12 business days (International)
Pictures Of Oil As The Glittering Prize, The Source Of Global Power And Empires, Or The Hub Of An Energy Crisis Have Gushed Through The Media Since 1973. What Actually Happened Was Very Different. M. A. Adelman Had Written In 1970 That The Genie Is Out Of The Bottle, That A Group Of Oil Producing Countries Would Control The Oil Trade To Raise Prices. Now, Twentyfive Years Later, He Has Written The Fascinating History Of The Greatest Monopoly Ever Known. The Underlying Economic Analysis Is Contained In The Companion Volume The Economics Of Petroleum Supply. Oil Was In Oversupply In 1970. The Oil Companies Could Not Keep Prices From Falling. But The Members Of O.P.E.C. (Organization Of Petroleum Exporting Countries) Could And Did Raise Prices By Restraining Output. However, They First Had To Restrain Each Other: An Endless Task, Since Each Of Them Would Gain By Cheating On The Others. With Open And Secret Agreements, Formal And Informal, They Tried To Finetune With Coarse Instruments, Resulting In The Socalled Energy Crisis. Adelman Describes The First Timid Steps To The Unbound Cartel. He Shows How The Producing Nations Overestimated Their Power, Why They Had Short Time Horizons And Raised The Prices Too High For Their Own Good. But After Prices Declined, Then Crashed In 1986, The Producing Nations Managed To Hold A Lower Price Level. Despite The Trillions Of Petrodollars That Fed Two Major Wars, Adelman Observes That Nearly All O.P.E.C. Nations Are In Debt. Nono.P.E.C. Production Grows, But The Cartel Survives And The Unstable Market With It. Price Hawks And Doves May Be Good Copy, Adelman Notes, But In Fact There Was Never An Arab Embargo Against The United States, Nor Any Moderating Influence By The United States. Since We Must In Our Own Interest Protect The Persian Gulf Producers, They Understandably Do Nothing To Oblige Us.
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⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
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Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
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We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Secure Payment
Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
We accept payments with :
Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.