In The News

Ukraine: Goodbye Cold War, Hello Globalized Economy

Remi Piet March 18, 2014
As Russia tries to claim Crimea from Ukraine and influence politics of neighboring states, other countries are uncertain about how to proceed – and just how effective economic sanctions might be. Russia is a leading producer of oil and natural gas, but is also over-reliant on those revenues. Another unknown for Russia and supporters is just how long global markets will tolerate endorsement of...

How to Save the Shale Revolution

Robert A. Manning March 11, 2014
Hydraulic fracturing and horizontal drilling pump water and chemicals into the ground and ease extraction of oil and natural gas. Critics point to the environmental risks, including earthquakes and groundwater contamination; some property owners even urge bans on the technology. Researchers have identified best practices to minimize problems; coordination among regulators could fend off the calls...

America's Energy Edge

Robert D. Blackwill and Meghan L. O'Sullivan February 26, 2014
Discoveries of shale energy throughout the Americas and beyond will upend geopolitics. “The fracking revolution required more than just favorable geology; it also took financiers with a tolerance for risk, a property-rights regime that let landowners claim underground resources, a network of service providers and delivery infrastructure, and an industry structure characterized by thousands of...

China Overtakes US as World’s Largest Goods Trader

Jamil Anderlini, Lucy Hornby January 22, 2014
The world’s second largest economy, China, has most likely overtaken the United States as the world’s biggest trader in goods, based on 11 months of data from 2013. “Trade with the rest of Asia and increasing flows with the Middle East represent a shift in power away from the US, still the world’s largest economy,” reports the Financial Times. Chinese officials anticipate trade and the national...

Orb-Shaped Solar Power Device Works on the Cloudiest Days

Tuan C. Nguyen January 13, 2014
The sun delivers enough energy in one hour to power all human lives for a year, explains Tuan C. Nguyen for Smithsonian Magazine. But collecting, containing and distributing that energy remains a costly challenge. Also, solar-panel production on its own carries a heavy carbon footprint. So far, research focus has been on crystals and other magnifying devices that concentrate sunlight. A German...

Putin’s Gas-Fueled Bailout of Ukraine

David R. Cameron January 2, 2014
Ukraine’s government has decided to link its fortunes to Russia, accepting a bailout worth billions after the European Union and the International Monetary Fund offered mere millions combined with tough conditions. Russia will settle a disputed gas bill, reduce the price of future gas deliveries, end some customs controls and import quotas recently imposed and provide financial assistance in...

America’s Role as Consumer of Last Resort Goes Missing

Simon Kennedy December 16, 2013
Household final consumption represents about 70 percent of US gross domestic product, yet “Cheaper fuel and raw materials are boosting manufacturing, making the U.S. more of a competitor to emerging-markets nations and less a reliable consumer of their goods,” reports Simon Kennedy for Bloomberg. The US recorded its lowest current-account deficit since 1999, assisted by new supplies of domestic...