VOL. XXXI

NO. 22

7-MARCH-1988

CAN NETBACK PRICING LEAD TO OIL PRICE STABILITY?

by Walter Newton

(The following is an abridged version of a paper presented by London-basedconsultant Walter Newton at the North American Conference of the lnternationalAssociation of Energy Economists in November 1987.)

Outside the United States the international oil industry has traditionallybeen a vertically integrated industry. The history of the international oilindustry over the 40 years from the early 1930s to...