First Take

What New Offshore Drilling Will Yield

Author: Michael A. Levi

President Barack Obama's move to expand oil and gas drilling in U.S. coastal waters aims mainly to build political support for his energy agenda, but will have limited impact on oil markets, writes CFR's Michael Levi.

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Innocent Again

Author: Amity Shlaes
Forbes Online

Amity Shlaes says that our leaders are forgetting the lessons of price controls as the Obama Administration moves to reform health insurance and credit cards.

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Gas Guzzlers

Author: Michael A. Levi
Foreign Policy

Although the surging oil consumption in India and China is often cited as the reason for skyrocketing oil prices, Michael Levi points out that they are only part of the picture. Due to massive oil subsidies, many Middle East countries are note just major producers, but major consumers of oil and are responsible, in part, for the growing oil prices over the last few years.

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Living on Canada's Oil

Author: Michael A. Levi

Michael A. Levi argues that a price on carbon would provide the United States energy security and prod the Canadian oil sands industry to clean up its emissions act.

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Council Special Report No. 47

The Canadian Oil Sands

Author: Michael A. Levi

The Canadian oil sands present an important challenge to policymakers: they promise energy security benefits but present climate change problems. Michael A. Levi assesses the energy security and climate change effects of the oil sands and makes recommendations for U.S. policymakers within the context of broader bilateral relations with Canada.

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Must Read

BI: Russia and the Caspian States in the Global Energy Balance

Author: Amy Myers Jaffe

Russia's position as a major energy supplier has great significance not only for its foreign policy but for its relationships with major energy consuming countries. The nature of Russia's future geopolitical role in world energy markets has become a major concern of international energy security with important implications for Europe, Japan and the United States. Given a range of economic and geopolitical uncertainties, the fate of Russian and Caspian natural gas exports remains a major risk factor in global energy supply. In this study, researchers examine several scenarios for Russian and Caspian oil and natural gas production, possible export routes, and the geopolitics involved.

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Averting the Next Energy Crisis: The Demand Challenge

Speaker: Scott Nyquist

Council on Foreign Relations address by Scott Nyquist, Senior Partner of McKinsey & Company, Inc., who discusses the energy demand contract, to what degree today's credit constraints will impact supply and how the post-recession balance between demand and supply will play out.

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Poor Policy, Not Sanctions, Weakens Iran's Economy

Djavad Salehi-Isfahani interviewed by Greg Bruno

Low oil prices are undermining Iran's economy, a political liability for President Mahmoud Ahmadinejad as he seeks reelection in June. Djavad Salehi-Isfahani, a former Iranian central bank economist, assesses the link between politics and economy in Iran.

See more in Iran; Sanctions; Oil