Oil

Analysis Brief

The Energy Policy Conundrum

Falling gas prices in the United States pose a challenge to policy experts seeking to move the country away from dependence on foreign oil. A new CFR Task Force report urges steps such as expanded domestic oil exploration, raising the cost of gas, and better engagement with India and China on energy issues.

See more in United States; Oil; Energy Policy

Analysis Brief

Vying Claims on Bolivia's Energy

Author: Lee Hudson Teslik

Evo Morales, Bolivia's populist president, has nationalized his country's energy industry. The decision will have specific economic ramifications, and possibly broader political ones in a region that lacks a coherent identity.

See more in Bolivia; Oil; Natural Gas

Analysis Brief

Russia and China Bond over Energy

Russia and China are signing groundbreaking deals to deliver Russian oil and gas to feed surging Chinese demand. The economic cooperation is also reflected on the political side, where the two nations are joining to counter U.S. influence in Central Asia and around the world.

See more in China; Russian Federation; Oil

Analysis Brief

Mixed Views on Bush Energy Plans

In his State of the Union speech, President Bush said America is "addicted to oil" and proposed using technology to reduce Americans' dependence on foreign oil. Critics say the proposals are farfetched, inadequate, and contradict the administration's own policies.

See more in United States; Energy Policy; Oil

Article

Instead of Cutting Waste, Nigeria Racks Up Debt to Replace Oil Revenues

Author: Matthew T. Page
World Politics Review

Last week, Nigeria’s Senate passed President Muhammadu Buhari’s proposed 2016 budget, which projected a deficit of $15 billion due to falling oil prices. In an email interview, Matthew Page, an international affairs fellow at the Council on Foreign Relations, discussed the impact of falling oil prices on Nigeria’s economy and politics.

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

Article

Nigeria’s Reform of Its State Oil Company Will Be Cosmetic Without Cutting Corrupt Ties

Author: Matthew T. Page
Quartz

or decades, Nigeria’s state oil company, the Nigerian National Petroleum Corporation (NNPC) has been the leading symbol of official corruption and a seemingly boundless source of political patronage. Faced with plummeting global oil prices and dwindling state coffers, president Muhammadu Buhari cannot afford to allow the NNPC, under a veneer of reform, to operate much as it did before. 

See more in Nigeria; Oil

Article

Falling Oil Prices, the Saudis, and the Soviets

Author: Stephen Sestanovich
Wall Street Journal

With oil prices collapsing, Saudi Arabia is facing similar problems that the Soviet Union faced decades ago. Saudi policymakers’ economic reform strategies also echo those of  Mikhail Gorbachev. However, different from Gorbachev’s Soviet Union, Saud Arabia’s foreign policy is both confrontational and interventionist. Saudi seeks change, but hopes to keep it in bounds, and may want the world to remain a dangerous place.

See more in Saudi Arabia; Oil; Russian Federation

Article

Weekend Reader: 'Market Madness: A Century of Oil Panics, Crises, and Crashes'

Author: Blake Clayton
The National Memo

In Market Madness: A Century of Oil Panics, Crises, and Crashes, stock analyst Blake C. Clayton tempers the craze surrounding oil exhaustion through a combination of historical investigation and sober, persuasive analysis. His book is a lucid, credible riposte to apocalyptic ravings about “peak oil.” Clayton examines how such panics have persisted through the decades, all unfounded, yet devastating to the market. Market Madness enjoins consumers, policymakers, and brokers to abstain from hysteria and remain informed about what the future of energy truly holds.

See more in Global; Oil