MenuOn June 28th, leaders of the G7 announced that they agreed to explore the possibility of imposing a price cap on Russian oil to reduce Moscow’s energy revenues. While many view this as political exigency or a futile return to price controls, the truth is far more complex — with reverberations beyond the war in Ukraine or
Category Archives: Middle East
China’s Saudi Trip More Than Niceties
China has again taken center stage with a string of groundbreaking events that will define its policy course for years to come – both domestically and internationally. The CCP’s 20th Party Congress bequeathed Xi Jinping a historic third term as President, but extreme economic turmoil and COVID protest have resulted in a chink in his political armor.
Peak Oil: The Perennial Prophecy That Went Wrong
Peak oil, a hypothetical point when global oil production maximizes and enters an irreversible decline, has been the holy grail of resource economics for decades: prized and just as elusive. Recently, technological development including increased digitization has altered conventional understandings associated with “peak oil”. Like other consumable resources, peak oil is grounded in reality: Oil
Don’t Expect Energy Sanctions To Stop Iran’s Crackdown
The Iranian government’s violent crackdown on protests stemming from the murder of Mahsa Amini by Iran’s Morality Police is driving the West to levy further sanctions against Iran. The US Treasury Department has already placed extensive financial sanctions on the members of Iran’s Morality Police with the US State Department promising more to follow. With the protests continuing to gain steam as Iran’s
The Greed And Geopolitics Of The OPEC+ Oil Production Cut
This move is not unexpected. As I wrote here, President Joe Biden’s failure in Saudi Arabia in July to secure more oil production shook Saudi Arabia’s transactional relationship (security for oil) with the USA to its foundations. Saudi Arabia began importing Russian fuel oils for domestic use to free up more crude oil for export months ago, with the
India, The Rising Power, Is Seeking Oil From The Middle East And Russia
The world’s most populous democracy is searching for ways to satiate its oil hunger, and it has decided to follow the well-worn path of engagement with the Middle East. Continue reading here..
Pariahs And Pals: Emerging Russo-Iranian Energy Cooperation.
Russian President Vladimir Putin, Iranian president Ebrahim Raisi, and Turkish President Recep Tayyip Erdoğan met for a much-heralded meeting in Tehran on July 19th to discuss energy policy, maritime security, and Syria. Many are eager to portray the meeting as a convergence of principled anti-western leaders who will challenge the international system. Read the full
Power Transition in Turkmenistan Could Mean Big Changes for Neighbors
The forthcoming political change will affect vast energy resources, especially natural gas, in Turkmenistan, one of the most isolated and impoverished countries in Eurasia. Read the full article…
Political Risks and Hobbesian Warfare Complicate Libyan Gas Supply for Europe
Since 2011, Libya has been suffering from a Hobbesian state of the war of all against all. Chaos, violence, and warfare massively impaired the north African energy giant’s oil and gas supplies. Read the full article…
Can Qatar Come to Europe’s Energy Rescue?
As the risk of a conflict between Ukraine and Russia grows – one that would undoubtedly imperil European energy security – the Emir of Qatar is invited to visit President Biden at the White House at the end of this month to discuss opportunities for the country to supply liquified natural gas (LNG) to Europe. Read the