Most people seem to believe that oil prices will go down in the long run because of climate policies and the growth of electric cars. Friedbert Pflüger, Director of the European Centre for Energy and Resource Security (EUCERS), argues that this view is far too simplistic. The only constant in energy markets, he writes, is that they are cyclical – and we seem to be poised for a sharp downturn right now. … [Read more...]
Trump’s “America First” energy policy puts China ahead in energy
China has indicated it is set to launch a crude oil futures contract in yuan, which could be a significant step towards the de-dollarization of the global economy. It is a sign of China’s growing confidence – and the U.S.’s declining influence, writes Friedbert Pflüger, Director of the European Centre for Energy and Resource Security (EUCERS). According to Pflüger, President Trump’s “America First” policy is having the opposite effect: it is … [Read more...]
Why Brussels should not interfere with Nord Stream 2
In its efforts to increase European energy security and create a common European energy market – and ultimately an Energy Union worth its label – the European Commission preeminently emphasizes the diversification of supply routes. For this reason it has criticised the Nord Stream 2 project of Gazprom and a number of European companies. But while diversification certainly remains one of the basic principles of energy security, it is only one of … [Read more...]
EU investigation Gazprom comes at the wrong time
The timing of the EU's investigation of Gazprom further exacerbates tensions with Russia, notes Friedbert Pflüger, Director of the European Centre for Energy and Resource Security (EUCERS), King’s College London. Pflüger warns that if the EU and Russia continue to be on a collision course, both sides will lose. … [Read more...]
Oil price decline: no room for conspirators
Some observers claim the US and Saudi Arabia have made a secret deal to bring down oil prices. They are supposed to be doing this in particular to hurt Iran and Russia. But Friedbert Pflüger, Director of the European Centre for Energy and Resource Security (EUCERS), King’s College London, finds their arguments unconvincing. The oil market is too big to be manipulated by conspirators. … [Read more...]
Cancellation of South Stream is not retaliation, but a business decision
The decision to stop the South Stream project does not represent a fundamental shift in Russian energy policy, writes Friedbert Pflüger, Director of the European Centre for Energy and Resource Security (EUCERS) at King‘s College London. It is not a political retaliation or a “counter-sanction”, but above all a business decision: South Stream had become far too expensive in the current stagnant European gas market. … [Read more...]
Outcome of nuclear talks could make Iran an Energy Superpower – even in renewable energy
An international settlement by November 24 could put Iran on a path to becoming an energy superpower, says Friedbert Pflüger, Director European Centre for Energy and Resource Security (EUCERS) at King’s College. And not just in fossil fuels – but even in renewable energy, which Iran now supports with feed-in tariffs and currency guarantees for foreign investors. US Secretary of State John Kerry meets with his counterpart this weekend. … [Read more...]
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