Introduction and Summary
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Introduction and Summary book
The international energy economics conference held at the University of Surrey in April 1983 was important for two reasons. It was one of the first opportunities for academic, business and government economists to assess a full decade of unprecedented change in the world energy situation since the oil price increases of 1973. But secondly, and quite adventitiously, it occurred immediately after the March 1983 conference of OPEC in London when, with the tacit agreement of non member countries like Britain, the official price of oil was lowered substantially and an output sharing agreement made between member countries.