VOL. XLIII

No. 13

27-March-2000

OPEC

Vertical Integration And The International Oil Industry: A Conceptual Error

by Paul Stevens

The following article is by Professor Paul Stevens of the Centre for Energy, Petroleum and Mineral Law and Policy, University of Dundee, Scotland. Email: <p.j.stevens@dundee.ac.uk>

The vertical integration of the international oil companies has long been a subject of interest to economists. More recently, interest in the issue has been revived as the result of two...