Abstract: Public Interest, Private Profits: Multinationals, Governments, and the Coming of the First Oil Crisis

Francesco Petrini

Abstract

The oil industry offers a unique take on the relations between public powers and private enterprise. For almost thirty years after the end of the Second World War, the big oil multinationals were delegated by the advanced capitalist countries the management of an increasingly relevant part of their energy supply. The companies not only took care of the production and commercial aspects of the industry, but had also a major part in dealing with producer governments, as quasi-sovereign entities.

BEH On-Line Paper