Energy and Environment

Book

Market Madness

Author: Blake Clayton

CFR adjunct fellow Blake Clayton draws on a century's worth of statistical data to offer a revolutionary new look at volatility and crisis in oil markets. Clayton explores the conditions in which oil supply fears arise, gain popularity, and eventually wane, and demonstrates the significant effects these stories have on financial markets.

See more in Global; Financial Markets; Oil

Op-Ed

Somalia: The Next Oil Superpower?

Author: Alexander Dick-Godfrey
National Interest Online

Last month, Soma Oil and Gas, a London based energy company, searching for hydrocarbon deposits off the coast of Somalia, announced that it had completed a seismic survey to ascertain the potential for recoverable oil and gas deposits. Although further details have yet to be released, chief executive Rob Sheppard announced that the results were encouraging. However, Somalia, and potential investors, should proceed with caution when considering entering this frontier market.

See more in Somalia; Oil

Op-Ed

Iranian Reformers Oppose Government's Nuclear Ambitions

Author: Ray Takeyh
Los Angeles Times

While the supreme leader of Iran Ayatollah Ali Khamenei remains Iran’s most consequential decision-maker, many of Iran’s most popular yet purged opposition leaders have decried the nuclear program as not economically beneficial, writes CFR’s Ray Takeyh. Given that these reformers could win open and free elections, it is important to pay close attention to their arguments.

See more in Iran; Nuclear Energy

Primary Sources

Submission by Denmark to the UN Commission on the Limits of the Continental Shelf (CLCS)

UN Convention on the Law of the Sea Treaty covers a variety of ocean-usage issues such as transit, mining, research, pollution, and resource management and sets out guidelines for nations. Territorial claims can be submitted to the Commission on the Limits of the Continental Shelf. On December 15,  2014, Denmark and Greenland submitted a claim to part of the Arctic, including the North Pole, which Russia and Canada each claim as their territory.

See more in Arctic; Denmark; Oceans; Territorial Disputes

Other Report

Spillovers From Falling Oil Prices: Risks to Mexico and the United States

Authors: Michael A. Levi, Alexandra Mahler-Haug, and Shannon K. O'Neil

U.S. policymakers who worry about the impact of energy developments on geopolitics typically think of high oil prices as bad news and low prices as an unalloyed good. But a sustained drop in oil prices can be dangerous as well. This paper investigates Mexican vulnerability to falling oil prices—and spillovers to the United States—to show how troublesome such a development might be.

See more in Mexico; Oil; Budget, Debt, and Deficits