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134-520: Enel S.p.A. is an Italian multinational manufacturer and distributor of electricity and gas. Enel was first established as a public body at the end of 1962, and then transformed into a limited company in 1992. In 1999, following the liberalisation of the electricity market in Italy, Enel was privatised . The Italian state, through the Ministry of Economy and Finance , is the main shareholder, with 23.6% of

268-464: A Smart City over the entire Expo area, simulating a city of 100,000 inhabitants with a total energy consumption of 1 GWh per day. The Smart City comprised a smart grid for the distribution of electricity, an operations center for the monitoring and management of the smart grid, an information system that allowed visitors to view in real-time the electricity consumption in each pavilion, charging stations for electric vehicles , and LED lighting of

402-535: A hydrogen-fueled power station located in Fusina , near Venice was commissioned but only produced energy for less than two years with costs of energy production 5-6 times higher than conventional sources. In March 2017, Enel inaugurated the Innovation Hub at University of California, Berkeley, an initiative for start-up scouting and collaboration development. In April 2017, in joint venture with Dutch Infrastructure Fund,

536-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

670-475: A coin worth one livre tournois . This term was also adopted in various Gallo-Italic languages in north-western Italy to refer to the Italian lira. There was no standard sign or abbreviation for the Italian lira. The abbreviations Lit. (standing for Lira italiana ) and L. (standing for Lira ) and the signs ₤ or £ were all accepted representations of the currency. Banks and financial institutions, including

804-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

938-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

1072-502: A gradual reduction of reliance on oil, which decreased from 75.3% in 1973 to 58.5% in 1985. Several large power plants became active during this period. Among these, the fossil fuel power plant of Fiumesanto ( Sardinia ) in 1983–84; the pumped-storage hydroelectricity power station of Edolo ( Lombardy ) in 1984–85, one of the biggest of its kind in Europe ; and the coal power plant of Torrevaldaliga Nord ( Lazio ) in 1984. In 1981, with

1206-608: A grid capable of effectively adjusting the two-way flow of electricity generated from renewable sources. The total investment for this project was € 10 million. Also in 2011, Enel became part of the United Nations Global Compact , a United Nations initiative to encourage businesses to adopt sustainable policies worldwide, and signed a cooperation framework agreement with the World Food Programme , to fight against world hunger and climate change. The cost of

1340-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1474-506: A partner of the Osmose project for the development of integrated systems and services in the renewable energy industry. In the same month, the company inaugurated Global Thermal Generation Innovation Hub&Lab in Pisa, a space for the development of innovative technologies of interest to thermal generation. In May 2018, Enel won the final round of the tender offer for the acquisition of Eletropaulo. At

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1608-459: A permit from the Bureau of Indian Affairs before mining rock and other material for the pits in which turbine bases are built. The United States asked that all excavating on the 8,500-acre site cease and that dozens of turbines that are already being erected be removed. Osage Wind has insisted that it is not mining and needs no permit. The company says that it has already spent nearly $ 300 million on

1742-462: A prefix or a suffix (e.g. Lire 100,000 or 100,000 lire). The ISO 4217 currency code for the lira was ITL . The Unicode CJK Compatibility block includes square versions of currency names in Japanese katakana for compatibility with earlier character sets which would display them in tables or vertical writing . Thus, U+3352 ㍒ SQUARE RIRA stands for リラ rira . It

1876-415: A result of the 1973 oil crisis and the austerity measures, and following the establishment of the first National Energy Plan (PEN), the aim of the company became that of reducing Enel's dependence on hydrocarbons , which was to be achieved with the use of other energy sources, including hydro, geothermal, coal, reducing waste, and, in particular, the use of nuclear power . Several new plants were built in

2010-614: A stock market index that evaluates the financial performance of companies based on economic, environmental, and social performance. In 2008, Enel formed Enel Green Power , a company dedicated to developing and managing the production of power from renewable energy . In 2009, Enel launched the Archilede project, a new urban lighting system chosen by 1600 municipalities. This new intelligent lighting technology resulted in approximately 26 GWh per year of energy saving, and reduced carbon dioxide emissions by 18,000 tons per year. That same year,

2144-568: A thermoelectric power plant opened in Torre del Sale, near Piombino (Tuscany). At the end of the 1970s, the construction of the thermal power plant of Porto Tolle ( Veneto ) began, and its first completed section became active in 1980. Between 1971 and 1977, the pilot 1000 kV transmission facilities in Suvereto ( Tuscany ) were tested. In 1974, the construction of the Adriatic high voltage electric backbone

2278-423: A value of over $ 56 billion by 1960. The majority of the electricity was produced by regional private companies, or by companies linked to other industrial bodies, both local and regional, by exploiting the specific characteristics of the territory: its hydrogeological resources. The state subsidised the construction of power stations and other necessary construction work in the territory in order to increase

2412-491: Is not intended for use in new applications. The Napoleonic Kingdom of Italy introduced the Italian lira in 1807 at par with the French franc , worth 4.5 grams of fine silver or 0.29032 gram of fine gold (gold-silver ratio 15.5). Despite the kingdom's fall in 1814, this new lira eventually replaced the currencies of the different Italian states until their unification in 1861 , replacing, among others: In 1865, Italy formed part of

2546-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

2680-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

2814-567: The AM-lire and some of the old, devalued coins of the Italian Kingdom . In 1951, the government replaced all circulating coins and notes with new smaller-sized aluminium 1 lira, 2, 5 and 10 lire (although the 2 lire coin was not minted in 1951 or 1952), and in 1954–1955, Acmonital (stainless steel) 50 and 100 lire coins were introduced, followed by aluminium-bronze 20 lire in 1957 and silver 500 lire in 1958. Increases in

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2948-450: The Bank of Italy , often used Lit. and this was regarded internationally as the abbreviation for the Italian lira. Handwritten documents and signs at market stalls would often use "£" or "₤", while coins used "L." Italian postage stamps mostly used the word lire in full but some (such as the 1975 monuments series) used "L." The name of the currency could also be written in full as

3082-599: The Bretton Woods System in November 1947. Following the devaluation of the pound, Italy devalued to $ 1 = Lit 625 on 21 September 1949. This rate was maintained until the end of the Bretton Woods System in the early 1970s. Several episodes of high inflation followed until the introduction of the euro. Due to the lira's low value after the war economic calculations and price displays became unwieldy because of

3216-603: The Chamber of Deputies assembly of 26 June 1962, the government presented a bill that sanctioned the principles and procedures for the establishment of the Ente Nazionale per l'energia Elettrica (E.N.EL). According to the bill, Enel was going to acquire all assets of companies producing, processing, transmitting, and distributing electricity, with the exception of self-producers—companies that produced more than 70% of their electricity for other production processes—(the same exception

3350-809: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

3484-469: The Latin Monetary Union in which the lira was set as equal to, among others, the French , Belgian and Swiss francs . The U.S. dollar was worth approximately 5.18 Italian lire until 1914. World War I broke the Latin Monetary Union and resulted in prices rising several fold in Italy. Inflation was curbed somewhat by Mussolini , who, on 18 August 1926, announced a new exchange rate between

3618-475: The Second World War . In 1943, the invading Allies introduced notes in denominations of 1 lira, 2, 5, 10, 50, 100, 500 and 1,000 lire. These were followed in 1944 by a series of Biglietti di Stato for 1 lira, 2, 5 and 10 lire, which circulated until replaced by coins in the late 1940s. The Bank of Italy introduced 5,000 and 10,000 lire notes in 1947 and 1948, respectively. In 1951,

3752-566: The Serre photovoltaic plant. At the time, this was largest of its kind in Europe with an installed capacity of 3.3 megawatts. In 1997, Enel, Orange S.A. , and Deutsche Telekom funded Wind Telecomunicazioni as a joint venture , a mobile and fixed telecom operator. In 2000, Enel launched a project to connect Italy's and Greece 's power grids by laying a 160 km underwater power line, capable of carrying 600 megawatts, to connect Otranto ( Apulia ) with

3886-611: The Vajont Dam disaster. On 9 October 1963, a huge landslide of 260 million cubic metres fell into the reservoir formed by the dam. The dam and power plant had been built by the Società Adriatica di Elettricità (the Adriatic Electricity Company, or SADE) and then sold to Edison , and it had just been transferred as part of the nationalisation process to the newly established Enel. The landslide created huge waves in

4020-410: The electricity grid with the construction of a high voltage power lines backbone, international connections, connections to the islands, rural electrification , and the creation of a national centre for dispatching. These projects were to be co-financed by the state through the issuing, in 1965, of bonds valued at over 200 billion Italian liras . In 1967, Enel, which was originally supervised by

4154-489: The lira pesante pushed back until it was permanently abandoned in 1991 because of plans for a single European currency . The lira was the official unit of currency in Italy until 1 January 1999, when it was replaced by the euro (the lira was officially a national subunit of the euro until the rollout of euro coins and notes in 2002). Old lira denominated currency ceased to be legal tender on 28 February 2002. The conversion rate

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4288-441: The transmission network , the distribution , as well as the interconnection of the Italian electricity system with that of foreign countries by adjusting in real time the production and transmission of energy on the basis of actual demand. In terms of rural electrification, the settlements that were not connected to the electricity grid declined from 1.27% in 1960 to 0.46% in 1964, with over 320,000 new residents being connected. In

4422-496: The "official" rate was Lit 19.80. After the Allied invasion of Italy, an exchange rate was set at $ 1 = Lit 120 (£1 = Lit 480) in June 1943, reduced to Lit 100 the following month. In German-occupied areas, the exchange rate was set at 1  ℛ︁ℳ︁ = Lit 10. After the war, the value of the lira fluctuated, before Italy set a peg of $ 1 = Lit 575 within

4556-666: The 1870s. Apart from the introduction in 1894 of cupro-nickel (later nickel) c.20 coins and of nickel c.25 pieces in 1902, the coinage remained essentially unaltered until the First World War . In 1919, with the purchasing power of the lira reduced to one fifth of that of 1914, the production of all earlier coin types except for the nickel c.20 halted, and smaller, copper c.5 and c.10 and nickel c.50 coins were introduced, followed by nickel 1 lira and 2 lire pieces in 1922 and 1923, respectively. In 1926, silver 5 and 10 lire coins were introduced, equal in size and composition to

4690-650: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

4824-500: The 2018-2020 strategic plan, which was characterised by a focus on digitization and new offers to customers. In December 2017, Enel and Audi signed an agreement to develop electric mobility services. In the same month, the Group launched the Enel X brand. In January 2018, Enel launched a new green bond in Europe. The issue amounted to a total of €1250 million. In January 2018, Enel was confirmed for

4958-462: The Bank of Italy in 1967, followed by 2,000 lire notes in 1973, 20,000 lire notes in 1975 and 500,000 lire notes in 1997. In the mid-1970s, when coinage was in short supply, Italian banks issued " miniassegni " in several low denominations. Technically bearer cheques, they were printed in the form of banknotes and were generally accepted as substitute legal currency. Notes in circulation when

5092-522: The Bersani Decree provisions on the liberalization of electricity production. In 2001, Enel acquired Infostrada —previously a subsidiary of Vodafone , at a cost of 7.25 billion euros. Infostrada was later merged with Wind , with 17 million customers. In 2005, Enel assigned 62.75% ownership of Wind to Weather Investments S.a.r.l., a company belonging to the Egyptian businessman Naguib Sawiris , at

5226-573: The Committee of Ministers, began to be overseen by the inter-ministerial Committee for Economic Planning (CIPE), under the Ministry of Industry. During this period, production from thermal power stations surpassed, for the very first time, that of hydroelectric power . In 1963, the National Dispatch Centre of Rome was created to manage the energy network by coordinating the production plants,

5360-540: The Enel Open Meter, the 2.0 smart meter designed to replace first-generation electronic meters. Open Meter was designed by Italian designer and architect Michele De Lucchi. In July 2016, Enel launched an Innovation Hub in Tel Aviv to scout 20 start-ups and foster collaboration, while offering a personalized support programme. In December 2016, Open Fiber completed the acquisition of Metroweb Italia for €714 million. In 2016,

5494-546: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

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5628-591: The Greek city of Aetos . The project, completed in 2002, had a total cost of € 339 million. During the 2000s, the company worked to reduce the environmental impact of the production of energy and on a progressive internationalization of Enel through a number of mergers and acquisitions. In 2000, Enel signed an agreement with the Italian Ministry of the Environment and the Ministry of Economic Development in which

5762-557: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

5896-561: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

6030-578: The Northern District of Oklahoma filed suit against Enel's subsidiary Osage Wind LLC, an 84-turbine industrial wind project in Osage County, Okla. In the suit, the United States alleges that Enel and Osage Wind are illegally converting minerals owned by the Osage Nation , a Native American tribe that has owned all mineral rights in the county since 1871. The suit says that Osage Wind should have obtained

6164-545: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

6298-572: The Piedmont-Sardinia lira introduced by Victor Emmanuel I of Savoy . In 1861, coins were minted in Florence , Milan , Naples and Turin in denominations of c.1 , c.2, c.5, c.10 and c.50, 1 lira, 2, 5, 10 and 20 lire, with the lowest four in copper, the highest two in gold and the remainder in silver. In 1863, silver coins below 5 lire were debased from 90% to 83.5% and silver c.20 coins were introduced. Minting switched to Rome in

6432-458: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

6566-471: The U.S. Enel expects to invest over $ 1 billion in the facility, creating 1,000 permanent jobs with the possibility of creating another 900 in a second phase. Oklahoma officials have called this the biggest economic development project in the state. Osage Wind dug foundations for wind turbines , crushed the rock and returned the dust to the earth. On 11 November 2014, the United States Attorney for

6700-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

6834-527: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

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6968-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

7102-609: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

7236-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

7370-561: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

7504-738: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

7638-470: The Vajont reservoir, which partially flooded the villages of Erto e Casso and swept over the dam, completely wiping out the towns in the valley below it: Longarone , Pirago, Rivalta, Villanova, and Faè. Approximately two thousand people died in the disaster. Enel and Montedison were charged in the ensuing trial as the companies responsible for the disaster, a responsibility considered all more serious because of

7772-749: The Vatican City. San Marino switched to the euro along with Italy and the Vatican City. As with old Sammarinese lira coins, the country has its own set of euro coins . Miniassegni ( sg. : miniassegno ) were a type of notgeld that circulated in Italy in the late 1970s in place of change, as in that period small-denomination coins were scarce and were often substituted with candy, stamps , telephone tokens , or even public transport tickets. The first miniassegni appeared in December 1975, and they were subsequently issued by many banks; they had nominal values of 50, 100, 150, 200, 250, 300 and 350 lire. In 2005,

7906-498: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

8040-400: The acquired companies would be transferred to Enel. 1963 was thus the first operational year of the newly formed company. The first companies to be acquired were: SIP ( Piedmont ), Edison Volta ( Lombardy ), SADE ( Veneto ), SELT-Valdarno ( Tuscany ), SRE ( Lazio ), SME ( Campania ), SGES ( Sicily ), and Carbosarda ( Sardinia ). Enel's early goals were the modernization and development of

8174-462: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

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8308-808: The c.10 bore a portrait of Napoleon I , with the denominations below 1 lira also showing a radiate crown and the higher denominations, a shield representing the various constituent territories of the Kingdom. After the end of the Napoleonic Kingdom of Italy in 1814, the lira remained present only in the Duchy of Parma and the Kingdom of Piedmont-Sardinia . The lira of Parma was introduced by Duchess Marie Louise, Duchess of Parma , who issued coin denominations of 1, 3, 5, 25, 50 cents and 1, 2, 5, 20 and 40 lire, while gold coins of 10, 50, 80 and 100 lire were also minted from

8442-728: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

8576-650: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

8710-521: The company committed to reduce carbon dioxide emissions by 13.5% before 2002, and by 20% before 2006. That year, Enel acquired CHI Energy, a renewable energy producer operating in the US and Canadian markets, for $ 170 million. In the following years, Enel continued investing in renewable energy and clean technologies. In 2004, the company was included in the Dow Jones Sustainability Index ,

8844-417: The company launched the largest “ready-to-build” solar PV project in Australia. In May 2017, Enel launched E-solutions, a new global business line to explore new technologies, as well as to develop products. In July 2017, Enel joined Formula E for the first zero-emission event in the championship’s history in New York. In September 2017, Enel ranked 20th in Fortune’s 2017 “Change the World” list and became one of

8978-407: The company opened a new photovoltaic power station in the Park of Villa di Pratolino , in Florence . The project - called "Diamante" – was to build a plant capable of storing, as hydrogen, enough of the solar energy accumulated during the day to meet night-time requirements. In 2010, the Archimede combined cycle power plant became operational at Priolo Gargallo , near Syracuse in Sicily . This

9112-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

9246-432: The course of the decade. In the early 1970s, the construction of the nuclear power station Caorso (Emilia-Romagna), the first major nuclear power plant in Italy (to generate 840-860  MW ), began. The station became operational in 1978. Between 1972 and 1978, the hydroelectric plant of Taloro was built in the province of Nuoro ( Sardinia ). In 1973, the hydroelectric plant of San Fiorano became operational. In 1977,

9380-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

9514-408: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

9648-515: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Italian lira [REDACTED] Kingdom of Albania (1939–43) [REDACTED]   San Marino (local issue: Sammarinese lira ) The lira ( / ˈ l ɪər ə / LEER -ə , Italian: [ˈliːra] ; pl. : lire , / ˈ l ɪər eɪ / LEER -eh , Italian: [ˈliːre] )

9782-526: The development of the country and in order to define a national policy for electricity based on the experiences of other countries such as France and the United Kingdom . At the beginning of 1962, the Fanfani IV Cabinet committed the government to put together a proposal for the unification of the national electricity system within three months of the parliament passing a confidence motion. During

9916-450: The earlier 1 lira and 2 lire coins. Silver 20 lire coins were added in 1927. In 1936, the last substantial issue of silver coins was made, whilst, in 1939, moves to reduce the cost of the coinage led to copper being replaced by aluminium bronze and nickel by stainless steel. All production of coinage halted in 1943. In 1943 the AM-lira was issued, in circulation in Italy after

10050-586: The end of March 2019, Enel became the most valuable company on the Italian Stock Exchange, with a capitalisation of over €67 billion. On 23 September, the company was included in the STOXX Europe 50 index. That same year, Enel's CEO Francesco Starace was awarded the "Manager Utility Energia 2019" prize by the Management delle Utilities e delle Infrastrutture (MUI) Italian magazine. In April 2022, Enel X Way

10184-480: The entire exhibition site. During 2016–2018, Enel carried out a series of operations aimed at digitising and innovating the Group, with particular attention to sustainability. In January 2016, Enel launched the “Open Power” brand, which presented the company with a new visual identity and a new logo. The concept of “openness” became the driver of the Group’s operative and communicative strategy. In June 2016, Enel presented

10318-661: The euro along with Italy and San Marino. As with old Vatican lira coins, the Vatican City has its own set of euro coins . The Sammarinese lira ( pl. : lire ) was the official unit of San Marino . Like the Vatican lira, the Sammarinese lira was at par with the Italian lira. Italian lira notes and coins were legal tender in San Marino (and vice versa). Specific Sammarinese coins were minted in Rome, and were legal tender in Italy, as well as

10452-459: The euro at a rate of €1 = Lit 1,936.27, before being replaced as cash in 2002. The Carolingian monetary system divided the libra into 20 solidi ( sg. : solidus ) or 240 denarii ( sg. : denarius ). These units translate in Italian to lira , soldo and denaro ; in French to livre , sou and denier ; and in English to pound, shilling and penny. In France, the "franc" referred to

10586-471: The euro was introduced were: The Vatican lira ( pl. : lire ) was the official unit of the Vatican City State. It was at par with the Italian lira under the terms on the concordat with Italy. Italian lira notes and coins were legal tender in the Vatican City, and vice versa. Specific Vatican coins were minted in Rome, and were legal tender also in Italy and San Marino. The Vatican City switched to

10720-563: The excess amount to Enel. In July 1992, the Amato I Cabinet turned Enel into a joint-stock company with the Treasury as the sole shareholder. In 1999, the D'Alema I Cabinet issued Legislative Decree no. 79 of 16 March 1999 (known as the Bersani Decree) to liberalise the electricity sector. This opened up the possibility for other actors to operate in the energy market. Enel—which had so far been

10854-501: The exploitation of national resources, the diversification of sources of supply from abroad, and the overall competitiveness of the production system. Between 1990 and 2000, the Italian electricity market was progressively liberalized. In 1991, Law No. 9/1991 sanctioned a first partial liberalisation of the production of electricity generated from conventional sources and renewable energy sources; companies were allowed to produce electricity for their own use with an obligation to hand over

10988-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

11122-435: The five-year period between 1966 and 1970, further investments for rural electrification were made, where 80% of the costs were covered by the state and 20% by Enel, part of those costs being incurred by reducing some rates as an incentive for agricultural development. In 1968, the construction of the 380 kV high-voltage connection between Florence and Rome began, with the aim of joining the high voltage electrical system of

11256-453: The government again issued notes, this time simply bearing the title "Repubblica Italiana". Denominations were of 50 and 100 lire (replacing the Bank of Italy notes) and they circulated until coins of these denominations were introduced in the mid-1950s. In 1966, 500 lire notes were introduced (again replacing Bank of Italy notes) which were produced until replaced in 1982 by a coin. 50,000 and 100,000 lire notes were introduced by

11390-436: The government bearing the title "Repubblica Italiana". In 1977, aluminium-bronze 200 lire coins were introduced, followed in 1982 by the bimetallic 500 lire. This was the first bi-metallic coin to be produced for circulation, minted using a system patented by IPZS . It was also the first to feature the value in braille . Production of 1 lira and 2 lire coins for circulation ceased in 1959; their mintage

11524-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

11658-608: The help of the European Economic Community , Enel built the first large-scale compact linear Fresnel reflector concentrated solar power plant , the 1 MWe Eurelios power station in Adrano ( Sicily ). The plant was shut down in 1987. In 1984, the photovoltaic power station of Vulcano ( Sicily ) became active. In the same year, the first wind farm in the country became operational in Alta Nurra ( Sardinia ). During 1985,

11792-963: The impending introduction of the euro. Coins still being minted for circulation at the time of the changeover to euro (in 2000 and 2001 only lire for collectors coins sets were minted) were: In 1882, the government began issuing low-denomination paper money bearing the title "Biglietto di Stato" (meaning "Ticket of the state"). To begin with, there were 5 lire and 10 lire notes, to which 25 lire notes were occasionally added from 1895. The government also issued notes titled "Buono di Cassa" between 1893 and 1922 in denominations of 1 lira and 2 lire. Production of Biglietti di Stato ceased in 1925 but resumed in 1935 with notes for 1 lira, 2, 5 and 10 lire being introduced by 1939. The Bank of Italy began producing paper money in 1896. To begin with, 50, 100, 500 and 1,000 lire notes were issued. In 1918–1919, 25 lire notes were also issued but no other denominations were introduced until after

11926-566: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

12060-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

12194-746: The landing in Sicily on the night of 9 July 1943. After 1946, the AM-lira ceased to be the currency of employment and was used along with normal notes, until 3 June 1950. Between 1947 and 1954, zone B of the Free Territory of Trieste used the Triestine lira . Coin production resumed slowly in 1946, reaching 1 million minted in 1948, with the purchasing power of the lira reduced to 2% of its value in 1939. Initially, 1 lira, 2, 5 and 10 lire coins were issued in aluminium. These coins were in circulation together with

12328-480: The large number of zeroes. As early as the 1950s suggestions were made to redenominate the lira but no serious efforts were made at that time. In the 1970s a plan known as lira pesante  [ it ] ( English : hard lira ) or lira nuova ( new lira ) was proposed. The lira pesante would have redenominated the currency at 1,000:1, removing 3 zeroes. However the project went dormant for several years before being revived in 1984. Ongoing heavy inflation saw

12462-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

12596-452: The largest unit of the Carolingian monetary system used in Western Europe and elsewhere from the 8th to the 20th century. The Carolingian system is the origin of the French livre tournois (predecessor of the franc ), the Italian lira, and the pound unit of sterling and related currencies. In 1999, the euro became Italy's unit of account and the lira became a national subunit of

12730-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

12864-432: The lira and sterling of £1 = Lit 92.46 (the so-called Quota 90 ) although the free exchange rate had been closer to Lit 140–150 to the pound, causing a temporary deflation and widespread problems in the real economy. In 1927, the lira was pegged to the U.S. dollar at a rate of $ 1 = Lit 19. This rate lasted until 1934, with a separate "tourist" rate of $ 1 = Lit 24.89 being established in 1936. In 1939,

12998-488: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

13132-531: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

13266-494: The national center for the dispatch and control of the electricity network was gradually transferred from the center of Rome to Settebagni, and made a part of a bigger European network for the synchronisation of electricity production. In 1986, Enel had its first positive balance, with a profit of 14.1 billion Italian liras . In 1987, in the aftermath of the Chernobyl disaster , the first referendum on nuclear power took place and

13400-476: The new law. That same year, 31.7% of the company, in its new structure, was privatised. Following privatization, Enel was put on the stock market; its shares were listed on the Italian Stock Exchange with a value of €4.3 per share; the total number was 4,183 million shares for a total value of € 18 billion. In this period, Enel was involved in several new projects. In 1993, the company built

13534-410: The north with that of the centre and the south. Around the same time, international high voltage connections with France (380 kV Venaus-Villarodin, 1969) and Switzerland were also put in place. In the same year, undersea electrical cables were put in place to connect the peninsula and the islands of Elba (1966), Ischia (1967), and Sardinia through Corsica (1967). In 1963, Enel was involved in

13668-466: The only actor in the production, distribution, and sale of electricity in Italy—had now to change its corporate structure by distinguishing the three phases and constituting itself as three different companies: Enel Produzione, Enel Distribuzione, and Terna , respectively, for energy production, distribution, and transmission. Moreover, Enel could produce only 50 % of the national production according to

13802-424: The predictability of the event. The two companies were forced to pay damages to the communities involved in the catastrophe. The decade of the 1970s was distinguished by a major energy crisis that led the company to implement drastic austerity measures, and the establishment of a national energy plan that defined the objectives of both building new power plants and searching for new energy sources . In 1975, as

13936-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

14070-579: The production of electricity . In 1961, the state-regulated distribution, with unified national tariffs set on the basis of equal consumption classes (through the Equalisation Fund for the Electricity Sector), and by requiring power companies to provide access to electricity for everyone. In 1962, the government institutionalised the Entity for electricity with the aim of making electricity a means for

14204-586: The project was € 8 million, which included the production and distribution of high-efficiency cooking stoves, the installation of photovoltaic systems in the all WFP logistical premises, and giving support to humanitarian interventions. In the same year, the company was added to the FTSE4Good Index of the London Stock Exchange which measures businesses' behaviour in terms of environmental sustainability, relationships with stakeholders, human rights,

14338-550: The project, which is being built on privately owned fee land, not land held in trust for American Indians. Osage Wind LLC and a second and adjacent Enel wind project, Mustang Run, are also embroiled in cases pending before the Oklahoma Supreme Court in which the Osage Nation and Osage County, Oklahoma , are challenging the constitutional legitimacy of permits for both projects. Multinational corporation Most of

14472-634: The promotion of technological innovation in renewable energy , and was joined by over 250 start-ups from 30 countries in 2015. In 2014 and 2015, Enel was included in the STOXX Global ESG Governance Leaders index, an index that measures a company's environmental, social, and governance practices. Enel took part in Expo 2015 in Milan as an Official Global Partner . With a € 29 million investment, as well as building its own pavilion, Enel built

14606-458: The quality of working conditions, and fighting against corruption. In 2012, Enel sold the remaining 5.1% of Terna in its possession, thus exiting completely from the high-voltage market. In 2013, Enel signed an agreement, in Sochi , for the sale of 40% of Arctic Russia, a joint venture with Eni , which in turn controlled 49% of SeverEnergia, for $ 1.8 billion. In May 2014, Maria Patrizia Grieco

14740-595: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

14874-585: The share capital as of 1 April 2016. Enel is the 59th largest company in the world by revenue, with $ 147.79 billion in 2023. As of 2018, Enel is also the second largest electric utility company in the world by revenue after the State Grid Corporation of China . The company is quoted on the FTSE MIB index on the Borsa Italiana . In 1898, the production of electricity in Italy was 100  GWh , and had

15008-436: The silver bullion price led to the 500 lire coins being produced only in small numbers for collectors after 1967. The 500 lire (and later the 1,000 lire) also appeared in a number of commemorative coin issues, such as the centennial of Italian unification in 1961. Between 1967 and 1982, two types of "paper money" were issued with a value of 500 lire. These were not issued by "Banca d'Italia", but directly by

15142-495: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

15276-461: The technological hub of Skolkovo. In the same month, Enel was included in the Top 20 of Forbes World’s Best Employers List 2017 and was confirmed by the non-profit global platform CDP as a global leader in the fight against climate change. In November 2017, Enel presented E-Mobility Revolution, a plan which seeks to install 7000 recharging stations for electric vehicles by 2020. In November 2017, Enel presented

15410-616: The tenth time in the ECPI Sustainability Index series. In February 2018, it received the 2018 Ethical Boardroom Corporate Governance award for sustainability and corporate governance standards. In February 2018, Enel became title sponsor of the FIM MotoE World Cup, as well as Sustainable Power Partner of the MotoGP. In March 2018, it invested $ 170 million in the construction of Peru’s largest solar PV plant. In May 2018, Enel became

15544-497: The time CEO of Global Telecom Holding (the remaining 37.25% was divested in 2006). In 2008 and 2009, Enel Stoccaggi and Enel Rete Gas were sold to investors, mainly Primo Fondo Italiano per le Infrastrutture . In 2011, Enel opened the first pilot carbon dioxide –capture facility in Italy, in the area of Brindisi , in the existing power plant ENEL Federico II. That year, Enel Distribuzione built its first Smart grid in Isernia ,

15678-509: The top 50 companies in the world – and the only Italian company – to have a positive social impact through business activities. In the same month, Enel and ENAP inaugurated Cerro Pabellón, the first geothermal power plant in South America and the first in the world to be built at 4,500 meters above sea level. In October 2017, the company inaugurated an Innovation Hub in Russia in collaboration with

15812-484: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

15946-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

16080-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

16214-698: Was Lit 1,936.27 to the euro. All lira banknotes in use immediately before the introduction of the euro, and all post- World War II coins, were exchanged by the Bank of Italy up to 6 December 2011. Originally, Italy's central bank pledged to redeem Italian coins and banknotes until 29 February 2012, but this was brought forward to 6 December 2011. The Napoleonic Kingdom of Italy issued coins between 1807 and 1813 in denominations of 1 and 3 centesimi and 1 soldo (5 centesimi) in copper, c.10 in 20% silver alloy, s.5, s.10 and s.15 (or c.25, c.50 and c.75 centesimi), 1 lira, 2 lire and 5 lire in 90% silver and 20 lire and 40 lire in 90% gold. All except

16348-493: Was completed. Between 1973 and 1977, wells for geothermal energy production were drilled in Torre Alfina, in the province of Viterbo ( Lazio ). The dam of Alto Gesso ( Piedmont ) was completed in 1982 as part of the hydroelectric power station Luigi Einaudi "Entracque" . The 1980s were characterised by the construction of new plants and the testing of alternative forms of energy, the Italian nuclear power phase-out, as well as

16482-538: Was deactivated in 1987 and shut down in 1990. The construction work on the Montalto di Castro Nuclear Power Station , started in 1982, was interrupted in 1988. The station was converted the following year into a multi-fuel plant. The Latina Nuclear Power Plant was shut down in 1988. The Garigliano Nuclear Power Plant had been shut down since 1978. In 1988, the new National Energy Plan (PEN) established its key objectives: increased energy efficiency, environmental protection,

16616-620: Was elected president of the board of directors ; and Francesco Starace was appointed CEO . The company's main objectives were set to be the reorganisation of activities in Iberia and Latin America and debt reduction. In 2014, Enel—together with Endesa , Accelerace, and FundingBox—initiated the INCENSe program (Internet Cleantech Enablers Spark), which was co-funded by the European Commission , for

16750-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

16884-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

17018-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

17152-431: Was later applied to municipal authorities), and of small businesses that did not produce more than 10 million kilowatt hours per year. Procedures to assess the value of the acquired companies were defined, and it was established that compensation was to be paid to creditors in 10 years at an interest rate of 5.5%. Within this framework, 1962 was to be considered a transition year, in which all income and expenses of

17286-491: Was launched. It is the new business line of the Group and aims to accelerate the development of electric mobility and combine decarbonization, digitalization and electrification. The initiative was presented by CEO Elisabetta Ripa at Rome's Formula E Grand Prix. On May 22, 2023, Enel subsidiary Enel North America announced the Tulsa Port of Inola as the future site of one of the largest solar cell and panel manufacturing plants in

17420-440: Was restarted from 1982 to 2001 for collectors' coin sets. Production of the 5 lire coin was greatly reduced in the late 1970s and ceased for circulation in 1998. Similarly, in 1991 the production of 10 and 20 lire coins was limited. The sizes of the 50 and 100 lire coins were reduced in 1990, but then they were completely redesigned 1993. A bimetallic 1,000 lire coin was introduced in 1997 and stopped in 1998 due to

17554-587: Was the currency of Italy between 1861 and 2002. It was introduced by the Napoleonic Kingdom of Italy in 1807 at par with the French franc , and was subsequently adopted by the different states that would eventually form the Kingdom of Italy in 1861. It was subdivided into 100 centesimi ( sg. : centesimo ), which means "hundredths" or "cents". The lira was also the currency of the Albanian Kingdom from 1941 to 1943. The term originates from libra ,

17688-505: Was the first thermal solar field to use molten salt –technology integrated with a combined cycle gas facility. Enel had several acquisitions and divestments in this period. In 2001, the company won the tender offer for the purchase of Viesgo—a subsidiary of Endesa —a company active on the Spanish market in the production and distribution of electricity, with a net installed capacity of 2400 megawatts . In 2002, Enel divested Eurogen SpA, Elettrogen SpA, and Interpower SpA in compliance with

17822-503: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

17956-547: Was won by those opposed to nuclear power. This result marked the end of nuclear power in Italy , the closing and suspension of all construction of nuclear power stations, and the establishment of a new national energy plan. The Caorso Nuclear Power Plant in Emilia-Romagna , which had been inactive since 1986 due to refuelling, was never reactivated and was finally closed in 1990. The Enrico Fermi Nuclear Power Plant in Piedmont

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