OIL PRICES, ENERGY PRICES
Summer 2013
"International Council Members Debate Critical Issues"
Newsletter Article, Belfer Center Newsletter
The Belfer Center launched its annual International Council meeting on April 9 with animated discussions of, among others, U.S. energy politics, the links between economic policy and national security, cybersecurity, and the rise of China. Participants included members of the Center's International Council and Board of Directors as well as faculty and senior fellows.
Summer 2013
"Conference Spotlights Saudi Arabia’s Role in the Middle East"
Newsletter Article, Belfer Center Newsletter
Saudi Arabia’s Prince Turki Al Faisal told a standing-room only audience at Harvard Kennedy School in April that his nation is investing huge sums in solar, wind, and nuclear energy to reduce domestic reliance on its oil reserves. Prince Turki said Saudi Arabia’s security depends on a healthy energy policy that uses oil to earn export revenues rather than for domestic consumption.
www.trade.gov
August 2012
"Natural Gas Development in Kurdistan: A Financial Assessment"
Paper
By Stephen A. Elliott and Louis B. Beryl
This report summarizes the context of natural gas development in the Iraqi Kurdistan Region (Kurdistan), assesses the major risk factors and opportunities, and presents a financial model for natural gas development projects.
Wikipedia Commons
February 14, 2013
"'Energy Independence' Alone Won't Boost U.S. Power"
Op-Ed, Bloomberg View
By Meghan L. O'Sullivan, Jeane Kirkpatrick Professor of the Practice of International Affairs, Harvard Kennedy School
“We are finally poised to control our own energy future,” said President Barack Obama in his State of the Union message, noting the drastic increase in American energy production from unconventional oil and gas resources.
Controlling our energy future means more than just producing a greater amount of our own energy. It also means harnessing this energy renaissance to meet our global geopolitical needs. We’ve begun to reap the many economic benefits this boom brings—such as easing the trade deficit and lowering carbon emissions. But we have only started to appreciate how this energy renaissance affects our larger strategic environment. And, not surprisingly, many readers of the tea leaves have confused reality with desire, by hoping more energy at home will mean keeping out of the volatile politics and economics of the Middle East.
November 6, 2012
"The Coming Oil Glut"
Op-Ed, Wall Street Journal
By Leonardo Maugeri, Roy Family Fellow, Geopolitics of Energy Project
"The price of oil continues to be set by fear, not by supply and demand," writes Leonard Maugeri. "World-wide oil production is growing quickly. By the end of the year, it will probably surpass 92 million barrels per day, with additional spare capacity of more than 3.5 million barrels. Thanks to the shale oil revolution, U.S. crude production could exceed 6.5 million barrels per day by the end of the year: around one million more barrels than the U.S. Energy Information Administration predicted in January."
July 2012
The Geopolitics of Natural Gas
Report
By Amy Myers Jaffe and Meghan L. O'Sullivan, Jeane Kirkpatrick Professor of the Practice of International Affairs, Harvard Kennedy School
Some of the most dramatic energy developments of recent years have been in the realm of natural gas. Huge quantities of unconventional US shale gas are now commercially viable, changing the strategic picture for the United States by making it self-sufficient in natural gas for the foreseeable future. This development alone has reverberated around the globe, causing shifts in patterns of trade and leading other countries in Europe and Asia to explore their own shale gas potential. Such developments are putting pressure on longstanding arrangements, such as oil-linked gas contracts and the separate nature of North American, European, and Asian gas markets, and may lead to strategic shifts, such as the weakening of Russia’s dominance in the European gas market.
AP Images
July 30, 2012
"Mexican Oil Reforms Are Vital on Both Sides of the Border"
Op-Ed, Bloomberg View
By Meghan L. O'Sullivan, Jeane Kirkpatrick Professor of the Practice of International Affairs, Harvard Kennedy School
In recent days a coalition of Mexican advocacy groups has been protesting in front of Televisa, the country’s largest TV network, to contest the legitimacy of President-elect Enrique Pena Nieto’s July 1 victory.
AP Photo
July 2012
"Gasoline Taxes and Consumer Behavior"
Discussion Paper
By Erich Muehlegger, Shanjun Li and Joshua Linn
Gasoline taxes can be employed to correct externalities associated with automobile use in order to reduce dependency on foreign oil and raise government revenue. This paper examines how gasoline taxes affect consumer behavior as distinct from tax-exclusive gasoline prices. It suggests that traditional analysis could significantly underestimate policy impacts of tax changes and discusses the implications of these findings.
AP Photo
July 15, 2012
"Energy Independence in an Interdependent World"
Op-Ed, Aljazeera
By Joseph S. Nye, Harvard University Distinguished Service Professor
"...[A] revolution in Saudi Arabia or a blockade of the Strait of Hormuz could still inflict damage on the US and its allies. So, even if America had no other interests in the Middle East, such as Israel or nuclear non-proliferation, a balance of energy imports and exports would be unlikely to free the US from military expenditures — which some experts estimate run to $50 billion per year — to protect oil routes in the region."
Vahid Salemi - AP Images
July 6, 2012
"Will Iran Crack?"
Op-Ed, Los Angeles Times
By Meghan L. O'Sullivan, Jeane Kirkpatrick Professor of the Practice of International Affairs, Harvard Kennedy School
The latest Iran sanctions came into full effect this week, adding to a byzantine array of unilateral and multilateral measures that prohibit Iranian oil imports, other trade and financial transactions, and freeze Iranian assets by countries concerned that Tehran's nuclear program is intended for military purposes, not civilian ones.
