The agreement between Trump and Juncker to have Europe buy more U.S. LNG has been criticized because it contains few details and because “they can’t make it happen anyway”. However, according to Anna Mikulska of the Kleinman Center for Energy Policy and Rice University's Baker Institute for Public Policy, the two leaders could promote investment in infrastructure – and that could have a big impact on the market. Courtesy Kleinman Center for … [Read more...]
OPEC? NOPEC! What makes Putin’s vision of a Russian-US oil alliance a pipedream
U.S. president Trump, who wants the U.S. to become a dominant oil and gas supplier to the world, regards Russia as “competitor”, though he sees that as “a compliment”. Russian president Putin has said he would like to “work together” with the U.S. to forge an OPEC-like alliance. Anna Mikulska, a fellow at the Baker Institute’s Center for Energy Studies and at the University of Pennsylvania's Kleinman Center for Energy Policy, explains why such an … [Read more...]
Can Saudi Arabia prevent the next oil shock?
As the oil price is inching up, and geopolitical storm clouds are gathering, market watchers increasingly wonder: can Saudi Arabia prevent the next oil price spike? And is it willing to do so? In this article, Cyril Widdershoven explains why counting on Saudi Arabia’s spare capacity could be foolish. In an accompanying article, Nick Cunningham argues that even if Saudi Arabia manages to ratchet up production, it would mean that virtually all … [Read more...]
The Saudis won’t prevent the next oil shock
As the oil price is inching up, and geopolitical storm clouds are gathering, market watchers increasingly wonder: can Saudi Arabia prevent the next oil price spike? And is it willing to do so? In this article, Nick Cunningham argues that even if Saudi Arabia manages to ratchet up production, it would mean that virtually all spare capacity go out of the market, setting the market up for further price rises. In an accompanying article, Cyril … [Read more...]
Sanctions or self-sabotage? The story of Iran’s oil industry
In the 2.5 years between the end of international sanctions and the reimposition of US sanctions this May, Iran accomplished very little in terms of revitalizing its oil industry, writes Ellen Wald of Jacksonville University. Fighting between pro- and anti-western groups prevented all attempts to attract foreign investment. Courtesy: the EnergySource blog of the Atlantic Council. … [Read more...]
The irony of Italy’s election for energy
Should the Italian government decide to halt the Trans Adriatic Pipeline (TAP), the last leg of the Southern Gas Corridor - meant to reduce the EU's dependence on Russia - may be in jeopardy, writes John Roberts, a senior fellow with the Atlantic Council Global Energy Center. Ironically, the Russians may want to save the project, according to Roberts. Courtesy: the EnergySource blog of the Atlantic Council. … [Read more...]
Ukraine’s power sector is set for a major transition
As the pillars of Ukraine’s power sector – coal and nuclear – are shaking, the country is on the point of a major energy transformation, writes Oleg Savitsky, climate and energy policy expert and journalist. But some crucial steps still need to be taken to make it possible. … [Read more...]
Has the European Commission tamed the Russian gas bear?
The European Commission’s decision on 24 May to impose “binding obligations on Gazprom to enable free flow of gas at competitive prices” – but no fine – is seen by some observers as a victory for Gazprom. Others take a more positive view. Meanwhile, a new report from IHS Markit claims Europe is on the point of becoming fully integrated into the global gas market, making worries about dependence on Russian gas – and Nord Stream 2 – unnecessary. … [Read more...]
Commission’s gas market proposal is an attempt to gain more control of energy policy
The European Commission’s proposed amendment to the Gas Directive is viewed by many as an attempt to block Nord Stream 2. But according to Danila Bochkarev, Senior Fellow, EastWest Institute, the Commission is thinking further ahead: it is using the proposal to try to increase its power over the EU energy market. … [Read more...]
Croatian LNG terminal: now or never?
If constructed, the planned Croatian LNG terminal could provide an alternative source of supply for Russian gas in Central and Eastern Europe. Yet without financial support from the region’s governments and diplomatic engagement of the US and the EU, it is unlikely to be realized anytime soon, writes David Koranyi of the Atlantic Council Global Energy Institute. … [Read more...]
Did Trump just kill the OPEC deal?
As has been widely discussed in the aftermath of President Trump’s decision to withdraw from the Iran nuclear deal, the return of sanctions on Iran could disrupt oil shipments, with estimates ranging from essentially nothing to as much as 1 million barrels per day of Iranian supply going offline. But the decision also could put an end to the OPEC agreement, writes Nick Cunningham of Oilprice.com. … [Read more...]
The extremism of Donald Trump
Now that Donald Trump has blown up the  Joint Comprehensive Plan of Action (JCPOA) on Iran, which he accuses of supporting “extremism and terrorism”, it seemed appropriate to hold up a mirror to the U.S. and ask whether perhaps that country has itself become an “extremist” state. No one better suited for this task than Tom Engelhardt, author a new book, A Nation Unmade by War, and editor of the website Tomdispatch.com, which has been documenting … [Read more...]
The Iran nuclear deal: to leave or not to leave
The future of the Iran nuclear deal hangs in the balance as the May 12 deadline set by US President Trump to “fix” the deal or walk away from it approaches. Rachel Brandenburg, director of the Atlantic Council’s Middle East Security Initiative interviews Matthew Kroenig, deputy director for strategy in the Scowcroft Center for Strategy and Security, and Aaron Stein, senior fellow in the Rafik Hariri Center for the Middle East, about whether the … [Read more...]
China’s growing oil demand creates a new geopolitical dilemma
China has become the world’s largest oil importer, and despite establishing the largely successful yuan-denominated oil futures, Beijing will have to grapple with an overlooked geopolitical and economic consequence as it seeks to quench its thirst for oil and gas, writes Tim Daiss of Oilprice.com. The country, mighty as it is, will become more dependent on OPEC, Russia - and even the U.S. Article courtesy Oilprice.com. … [Read more...]
Donald Trump versus OPEC
OPEC does have a role in today’s higher oil prices, but is this bad for the U.S., as Donald Trump is claiming? According to independent energy analyst Geoffrey Styles, in the new oil world, the U.S. economy may not be worse off with higher oil prices, even if consumers pay more at the pump. … [Read more...]
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