chapter  7
3 Pages

Consensus and Open Issues

The tasks that economists set for themselves are difficult. They want to understand the fundamental forces at work in markets and to predict, with some accuracy, the future course of prices and production. They also expect their analyses to be helpful to decision makers. In this section, we will review the contribution of our profession to the under­ standing of the oil market, and then turn our attention to the most important open questions for future research.