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October 8, 2019

Iran
1970s Oil Crisis Redux or Oil Price Rout?

It has been four weeks since a major military attack on critical oil facilities in Saudi Arabia shocked the world and very little has happened to suggest such an event couldn’t happen again. That beg…

Some Motorists Ran Out of Gas Such as This Man in Portland and Had to Stand in Line with a Gas Can During the Fuel Crisis in the Pacific Northwest.

July 13, 2017

Fossil Fuels
Managing a Smaller U.S. Strategic Petroleum Reserve

Downsizing the U.S. Strategic Petroleum Reserve will have economic and foreign policy consequences that have not been fully considered. U.S. foreign policy should prioritize the management of these c…

A section of the BP Eastern Trough Area Project oil platform is seen in the North Sea, around 100 miles east of Aberdeen in Scotland, on February 24, 2014.

October 17, 2019

Nigeria
Buhari Orders Land Borders Closed in Long-Running Effort to Boost Rice Production

In August, President Muhammadu Buhari ordered closed Nigeria’s land border with Benin, preventing the import of goods. The move significantly affected trade in foodstuffs. It is part of an effort to tackle smuggling and associated corruption, but also, apparently, to spur the domestic agricultural industry. On October 14, Nigeria ordered closed all of Nigeria’s borders with Benin, as well as those with all other countries, for the same reasons.

A farmer works with rice sprouts on a farm

February 13, 2019

Nigeria
Nigeria Is Oil Dependent, not Oil Rich

At a business breakfast on February 7, Doyin Salami pointed out the elephant in the living room of Nigeria’s economy. The country is not oil rich; rather it is oil dependent. He asked attendees to acknowledge this distinction.

Nigeria-Oil-Pollution-Rivers-State

June 15, 2016

Fossil Fuels
The Strategic Petroleum Reserve: A Policy Response to Oil Price Volatility?

This guest post is authored by Jason Bordoff, professor of professional practice and founding director of the Center on Global Energy Policy at Columbia University’s School of International and Publi…

A maze of crude oil pipes and valves at the Strategic Petroleum Reserve in Freeport, Texas (REUTERS/Richard Carson).

October 29, 2019

Oil and Petroleum Products
How Iran Can Hold the World Oil Market Hostage

Iran poses an acute threat to oil infrastructure across the Middle East, potentially allowing it to extort concessions from world powers.    

Workers at the damaged site of a Saudi Aramco oil facility.

March 26, 2019

Saudi Arabia
The New Oil Darwinism

It’s a geopolitical jungle out there in the oil world right now and only the fittest will survive. The new oil Darwinism is replacing the older thesis that all producers can succeed over time because…

An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014

March 4, 2011

Fossil Fuels
It’s Too Early to Use the Strategic Petroleum Reserve

The New York Times reports this morning that “calls have been growing in Congress for the Obama administration to consider tapping into the nation’s strategic petroleum reserve”. That understandable …

August 21, 2019

Nigeria
Debt Servicing, Tax Revenue, and Oil in Nigeria

President Buhari is publicly asking the Federal Inland Revenue Service about its failure to meet tax-collecting targets since 2015. Nigerian Federal and state entities have borrowed so much money that debt service now consumes more than 70 percent of revenue, according to the Finance Ministry. 

Tunde Fowler sits and gestures in front of a FIRS logo during an interview.

September 16, 2019

Saudi Arabia
Scale and Nature of Attacks on Saudi Oil Makes This One Different

In the swirl of conflicting reports about who might be responsible for the latest attack against Saudi Arabian oil installations, it is important not to miss what makes this latest attack categorical…

Smoke is seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia, September 14, 2019.