POLS 2100 Lecture Notes - Lecture 7: Michael Specter, Political Corruption, World Oil Market Chronology From 2003
17 Jan 2018
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Week 5: rentier states ( february 8 and 10) Thomas l. friedman, the first law of petropolitics, foreign policy may-june 2006. Comparative experience: michael specter, extreme city: the severe inequality of the angolan oil. In the middle east it costs only a few dollars to make a barrel (160l) in canada it costs to create a barrel of oil. Rentier states: rents are payments made periodically for the use of land or accommodation or for equipment , rentier is a person living on an income from property, investments etc. In bad years or lean" years it costs countries more money to pump oil to the surface than they do in profit. Economic rent and rentier states: the difference between the costs of exploitation and the price paid for a barrel of oil is the profit or, more accurately, rent.
