Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
Introduction
Throughout its decades of independence, Myanmar has struggled with military rule, civil war, poor governance, and widespread poverty. A military coup in February 2021 dashed hopes for…
During the 2020 presidential campaign, Joe Biden promised that his administration would make a “historic effort” to reduce long-running racial inequities in health. Tobacco use—the leading cause of p…
Violence around U.S. elections in 2024 could not only destabilize American democracy but also embolden autocrats across the world. Jacob Ware recommends that political leaders take steps to shore up civic trust and remove the opportunity for violence ahead of the 2024 election season.
John Kerry discusses his work as U.S. special presidential envoy for climate, the challenges the United States faces, and the Biden administration’s priorities as it continues to address climate change.
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with John F. Kerry and Michael Froman March 1, 2024
The fall in international oil prices is having a devastating impact on Nigeria’s formal economy. Oil, the property of the Nigerian government, provides more than 60 percent of government revenue. Fur…
The Buhari administration has been moving energetically to respond to the coronavirus and the collapse of international oil prices. The finance ministry has moved quickly to recalculate the national …
Iraq faces an uphill battle in meeting its obligations to the historic production cut agreement reached by the Organization of Petroleum Exporting Countries (OPEC) and other major producers such as Russia. The production cuts are due to begin today. Not only is Baghdad mired in deep economic and political crises that show little signs of abating but Iraq’s complex service agreements with international oil companies (IOCs) operating its southern fields means that the Gulf producer would actually have to pay more money to the foreign firms working in its oil sector in excess of existing service fees if it demands the IOCs rein in output to help Iraq meet its targeted quotas. The supplemental fees, which could be millions of dollars, are stipulated in the oil field service contracts that Iraq holds with foreign oil companies that have been assisting with its oil production capacity expansion program over the last several years. The payments structure for Iraq’s service contracts means that output cuts put an added financial strain on the ability of OPEC’s second largest oil producer to comply fully with its pledged one million b/d plus output reductions in the coming months.
Accompanying the misery of the coronavirus pandemic has been an ongoing crisis in the oil industry. While the scale and tragedy of the coronavirus is front and center in our minds, the collapse of oi…
This is a guest post by Hunter Kornfeind, intern for Energy and Climate Policy at the Council on Foreign Relations and current student at Temple University.
A breakthrough agreement between major …
Blog Postby Guest Blogger for Energy Realpolitik April 15, 2020
Energy Realpolitik
In recent days, the Donald J. Trump administration appears to have been sending mixed messages about oil. Typically, low oil prices can be a stimulus to the U.S. economy, but that is in situations wh…
Amy Myers Jaffe, CFR’s David M. Rubenstein senior fellow for energy and the environment and director of the Energy Security and Climate Change program, sits down with James M. Lindsay to discuss the standoff between Russia and Saudi Arabia over oil prices.
As the oil price war continues, markets are hanging on every word coming from Washington, Moscow and Riyadh, amid signs that diplomacy could be afoot. A statement by the Kremlin’s presidential spokesperson, that Russia would like to see higher prices, signaled that Russia might be willing to blink in the Russia-Saudi oil price standoff. It appears that the fall in the ruble is larger than Moscow expected, prompting them to use up foreign currency reserves at a faster clip than anticipated. Russia could also be finding it more difficult to sell its oil in China and Europe.
A long dip in oil prices could put several oil-producing states under great strain, but some are better positioned than others to weather the downturn from the coronavirus.
It’s happened several times before: geopolitical tensions between Saudi Arabia and Russia have led to a dramatic drop in oil prices in years past. But the breakdown in Saudi-Russian cooperation in oil markets over the weekend is strikingly different this time.
The new coronavirus has led to a slowdown in economic activity in China and East Asia more broadly. The global price of oil has now fallen to $53 a barrel. This is beginning to affect the oil-exporti…
Though the current Delta insurgency has been underway since 2005, discussions of Nigerian insecurity at present tend to overlook it. Instead, the focus is on the northeast, where the jihadist Boko Ha…
As nations prepare for a possible health emergency, world leaders are realizing that the new coronavirus is going to be harder to contain than previously hoped. Mobilization is continuing, and concer…
The first priority in addressing the coronavirus is preserving global health. Lessons from the past show that the herculean task requires timely and credible action by governments, coordinating leade…
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