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Hastings International and Comparative Law Review

Abstract

Responding to the Arab oil embargo of 1973-74 and to the abrupt shift of control over the oil market from the international oil companies to the producer countries, the major oil consuming countries established the International Energy Agency (IEA) on November 15, 1974. This article analyzes the origin, structure and early operations of the lEA. The author concludes that the organization of the IEA demonstrates the ability of oil consuming countries to respond in a constructive, cooperative, and peaceful fashion to the energy challenges of today.

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