In The News

Reuters: Iran and OPEC Agreement

Bozorgmehr Sharafedin June 27, 2018
OPEC, the Organization of Petroleum Exporting Countries, raised production output at its July meeting but did not specify targets. Some analysts mention a production rise of 800,000 barrels per day, but Iran’s oil minister disagreed. “The United States, China and India had urged oil producers to release more supply to prevent an oil deficit that could undermine global economic growth,” reports...

The New York Times: Pope Tells Oil Executives to Act on Climate

Elisabetta Povoledo June 13, 2018
Three years after his urgent letter warning of the dangers of rapid climate change created by humans, Pope Francis has taken additional action by addressing the leaders of the world’s biggest oil companies. Oil and gas company efforts have been lackluster in transitioning away from limited fossil fuels to renewable energy sources, and the risks to the environment – including pollution, flooding,...

The Economist: Iran Braces for Economic War with America

May 24, 2018
Donald Trump’s May 8th pullout from the Iran nuclear deal – which had promised sanctions relief in exchange for reduction, conversion and inspections of its nuclear facilities – has disappointed and angered Iranian business leaders. Trump’s strategy shifted from containment to a full-on economic offensive. According to the Economist, the administration “has told firms worldwide that they have...

Bloomberg: US Sanction Power Reaching Its Limit?

Ben Holland May 23, 2018
The United States withdrew from the Iran nuclear deal known as the Joint Comprehensive Plan of Action and plans unilateral sanctions. Ben Holland of Bloomberg News identifies a pattern: the Trump administration’s increasing reliance on sanctions and disdain for diplomacy. Other major economies, especially the European Union, China and India may be weary of US demands that increase their costs. “...

South China Morning Post: China Won’t Interfere in Venezuela

He Huifeng May 22, 2018
Three years ago, the United States was Venezuela’s top trade partner, accounting for 43 percent of exports and 29 percent of imports. Rising animosity in US-Venezuelan relations increased Venezuela’s reliance on China including oil-for-loan deals. The country’s economy has collapsed and China may be giving up on Venezuela, too: Basic goods and food are unavailable, crime is widespread, and the...

Project Syndicate: Climate Leadership Means Ending Fossil-Fuel Production

Tzeporah Berman and Lili Fuhr November 7, 2017
The technology behind renewable energies like solar and wind is improving, and communities that plan for the transition away from reliance on fossil fuels will be cleaner, healthier, less polarized and economically stronger. Some countries resist the notion of not using up every last bit of coal and oil. Canada and Norway should not try to hedge on energy – both investing in renewables while...

The Washington Post: What the Royal Purge Means for Saudi Arabia and Oil

Steven Mufson November 6, 2017
Global investors study a series of events in Saudi Arabia and how those may disrupt global oil prices. The crown prince announced a modernization drive, Vision 2030, with plans to create a new city. He also launched an anti-corruption drive, quickly followed by arrests of princes and ministers who might be seen as potential rivals. Saudi Arabia is in the process of selling a small portion of...