Abstract

Offshore Oil Boom
Weisberg, Barry | March 8, 1971 issue

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The article discusses the political economy of petroleum. According to the author, American petroleum investment in Southeast Asia is already extensive. Standard Oil Co. and Shell have been investing in the region for more than fifty years. At present, offshore oil concessions dot a map of Southeast Asian waters and by the end of 1971 Indonesian petroleum production is expected to reach 1 million barrels a day, with American interests dominating 80 per cent of production. The author points out that recent military escalations of the U.S. in Cambodia and Laos appears to coincide with the actual determination of petroleum deposits in Indochina.

See Also:

PETROLEUM; ECONOMICS; INVESTMENTS; OFFSHORE oil industry; CONCESSIONS; STANDARD Oil Co.; INDOCHINA; SOUTHEAST Asia; UNITED States
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