Commentary
Powerful lobbyists and inertia led to Russia’s coal-mining sector missing an excellent opportunity to solve its structural problems.
Alexey Gusev
{
"authors": [
"Deborah Gordon",
"Shin-pei Tsay"
],
"type": "legacyinthemedia",
"centerAffiliationAll": "dc",
"centers": [
"Carnegie Endowment for International Peace"
],
"collections": [],
"englishNewsletterAll": "ctw",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Carnegie Endowment for International Peace",
"programAffiliation": "SCP",
"programs": [
"Sustainability, Climate, and Geopolitics"
],
"projects": [],
"regions": [
"North America",
"United States"
],
"topics": [
"Climate Change"
]
}
Source: Getty
In The Media
Big Oil's Slick Profit Day?
Although Washington cannot stabilize global oil prices that are largely a result of external events over which the United States has little control, policymakers can make a difference in dampening the impact of volatile oil prices.
Published on Apr 29, 2011
Source: Politico
The first step is to eliminate Big Oil subsidies and tax breaks, immediately. As evidenced by ExxonMobil’s posted first quarter profits of nearly $11 billion, the oil companies do not need hard-earned tax dollars to survive. The next step is for Congress to set an oil price floor — now, when gas prices are high — to spur ongoing innovation and promote alternatives to oil and autos. Seventy percent of oil consumed in the United States is for transportation, yet funding to upgrade our transportation system suffers from serious insolvency. A fixed, paltry 18.4 cents a gallon funds transportation whether the price of gas is $2 or $4 a gallon. So when oil prices rise, only Big Oil benefits.
It’s high time that we find other ways of fueling our mobility.
About the Authors
Deborah Gordon
Former Director and Senior Fellow, Energy and Climate Program
Gordon was director of Carnegie’s Energy and Climate Program, where her research focuses on oil and climate change issues in North America and globally.
Shin-pei Tsay
Former Nonresident Associate, Energy and Climate Program
Shin-pei Tsay was a nonresident associate in the Energy and Climate Program at the Carnegie Endowment for International Peace.
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
More Work from Carnegie Russia Eurasia Center
- Russia’s Coal Industry Is Running on Borrowed Time
- What’s Having More Impact on Russian Oil Export Revenues: Ukrainian Strikes or Rising Prices?Commentary
Although Ukrainian strikes have led to a noticeable decline in the physical volume of Russian oil exports, the rise in prices has more than made up for it.
Sergey Vakulenko
- Russia Is Meddling for Meddling’s Sake in the Middle EastCommentary
The Russian leadership wants to avoid a dangerous precedent in which it is squeezed out of Iran by the United States and Israel—and left powerless to respond in any meaningful way.
Nikita Smagin
- Lukashenko’s Bromance With Trump Has a Sell-By DateCommentary
Lukashenko is willing to make big sacrifices for an invitation to Mar-a-Lago or the White House. He also knows that the clock is ticking: he must squeeze as much out of the Trump administration as he can before congressional elections in November leave Trump hamstrung or distracted.
Artyom Shraibman
- Beyond Oil: Hormuz Closure Puts Russia in the Lead in the Fertilizer MarketCommentary
The Kremlin expects to not only profit from rising fertilizer prices but also exact revenge for the collapse of the 2023 grain deal.
Alexandra Prokopenko
