EGEE_120_SYLLABUS_FALL_08 - EGEE 120: Oil - International...

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Unformatted text preview: EGEE 120: Oil - International Evolution Instructor(s) : Yaw D. Yeboah, ScD. Professor and Head Department of Energy & Mineral Engineering 118 Hosler Building Phone: (814) 865-0269, Email: Office Hours: TR 4-5 or by appointment Luis Ayala, PhD Assistant Professor of Petroleum and Natural Gas Engineering 122 Hosler Building Phone: (814) 865-4053, Email: Office Hours: TBD or by appointment Teaching Assistant : Karen G. Hagemeier Email: Office Hours: WF 10-11 AM Instructional, Educational, and Course Objectives This general education course will provide a multi-disciplinary approach to understanding how oil affects international relations and commerce. The relationships between oil technology, social and political institutions, the unique cultures in oil-producing regions will be investigated in case studies. NOTE: The required textbook is the Pulitzer Prize book The Prize- the epic quest for oil, money and power by Daniel Yergin, published by Free Press. The PowerPoint presentations will be available online in Angel. The videos, The Prize Episodes One through Eight, may be viewed outside the classroom at q=The+Prize&emb=0# . Course Description Oil is the worlds most important commodity. Access to oil was decisive in the great military struggles of the 20 th century. The economic and strategic value of oil has led to the evolution of a fascinating array of business, political, and strategic alliances around the world. The objective of this course is to describe this evolution and the technological, commercial, and political innovations shaping its current face. This knowledge is vital in achieving a more complete understanding of the role of oil in international affairs and economic development. The course begins with a discussion of the development of the American and European oil industries during the 19 th century and the formation of the first great industrial oil monopolies. The emergence of oil as a strategic commodity prior to and during World War I will then be discussed. The economic and technological reasons for the recurring boom-bust cycles of oil markets and the political arrangements developed to cope with their effects is the third major topic of the course. The focus then shifts back to military affairs with a discussion of the role of oil in the battles of World War II. We then examine the social and cultural roots of the post-war dissolution of company EGEE 120 Page 2 ownership and the nationalization of oil reserves. Also in the policy arena, is a discussion of the policy response of western governments to a growing dependence upon low-cost oil from the Middle East, Africa, and South America. The analysis then focuses on the ideology and strategy behind the formation of the Organization of Petroleum Exporting Countries (OPEC) and the motivations and execution of their strategies to drive up oil prices during the 1970s and 1980s....
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This note was uploaded on 09/23/2008 for the course EGEE 120 taught by Professor Considine,timothy during the Fall '07 term at Pennsylvania State University, University Park.

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EGEE_120_SYLLABUS_FALL_08 - EGEE 120: Oil - International...

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