Fueling State Capitalism - How Domestic Politics Shapes Foreign Investments of National Oil Companies

In the late 1990s, governments began investing hundreds of billions of dollars in foreign oil and gas assets through their national oil companies (NOCs), raising concerns about a "resource war" and asymmetric interdependence. Most critics perceive the foreign investments of NOCs as politically driven and inefficient. In Fueling State Capitalism, however, Andrew Cheon sees these investments as commercial ventures by ambitious state-owned enterprises seeking to become global players amid rising oil prices. Looking at investments from 79 countries from 2000 to 2013, as well as case studies of China, India, Brazil, Norway, and Russia, Fueling State Capitalism unpacks the role of domestic institutions, both national and bureaucratic, in shaping the global expansion of national energy firms.