Most oil-producing countries have now nationalised their oil reserves and are pursuing their own pricing and marketing policies; in recent years some of them have attempted to extend their influence over the oil market by undertaking processing activities downstream from oil production. What...

Are natural resources getting scarcer? How should the limited reservoir of non-replenishable raw materials such as metals and fossile fuels be utilized by successive generations? What possible solutions are proposed by economics in the face of diminishing reserves of raw materials? These are the...