Giuliano Garavini teaches international history at Roma Tre University in Rome.

May 16, 2025

Analysis

OPEC Plus

Economics and politics in an expanding exporters organization

While OPEC's economic stratagem has always trumped the political orientation of some of its members, wide geopolitical shifts have diminished the role of some nations while allowing for new partnerships unimaginable in the twentieth century. As an expanded organization, OPEC+…

October 17, 2023

Analysis

The Oil Revolution

The myths and realities of the oil price shock of 1973

The abrupt quadrupling of the oil price in the final months of 1973 is widely held to have marshalled the end of “a golden age of world capitalism.” Eric Hobsbawm’s standard-setting interpretation defines 1973 as the turning point when the…