Watching the World: Politics or technology

12/17/2001
Efforts by the Organization of Petroleum Exporting Countries to limit output in support of prices have been going on for several years in some shape or form.The group has had its successes and its failures, its supporters and its detractors.Its attention is now focused on securing the support of Norway and Russia to limit their exports, but are we coming to a point where oil output is no longer controlled by political considerations but by the pro- gress of technology?Norway's roleOil was first discovered off Norway in the late 1960s, and production did not start until 1971, when the "oil weapon" was first being added to the political armory of some countries.Since then Norway has con...
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