ABSTRACT
In the last paragraph of Chapter 10 the author noted that the ‘dynamics of the [oil] industry … are now so great that even the relatively short period between writing the text and its publication may prove [the author] wrong in respect of the short-term outlook’. And so it has proved. In November 1985, when the completed manuscript was delivered, the international price of oil was just under $30 per barrel. It is now less than $13 and it is not generally expected to recover to more than $20 – at most.
