David Livingston comments on OPEC’s influence on the oil market.
In an interview with German radio station Deutschlandfunk, he [Jan Techau] said "there's a hint of truth in that with regard to the IS trade routes, to closing the borders for the traders, the borders that were the most important link to the western, open world, to the markets - Turkey has looked away for a very, very long time. Turkey has been charged with a lot of responsibility there."
At a solo talk entitled “Renewables Aren’t Solving Oil Yet. What Can?”, David Livingston of the Carnegie Endowment for International Peace discussed how various oil companies rebranded themselves as “energy” companies after the 1970s oil crisis, leading many to believe the 1980s would herald an alternative energy future.
The Russian economy is heavily dependent on oil as Andrey Movchan from Carnegie’s Moscow Center explains. The chart above suggests that it has substantial reserves to deal with low oil prices, but Ian Bond and Christian Odendahl have argued that Russia’s state coffers may not be as full as the official statistics suggest.
“The prospects for the economy will be the most powerful factor shaping China’s energy plan, especially the next five-year plan between 2016 and 2020,” said Tao Wang, resident scholar in the Energy and Climate Program at the Carnegie-Tsinghua Center for Global Policy in Beijing. The plan is being completed and is expected to be adopted in March 2016.
“The world is entering a new era of uncertainty in the geoeconomics of oil,” said David Livingston, an associate in the Energy and Climate Programme of the U.S. Carnegie Endowment for International Peace. “It is far from certain that the notoriously volatile oil market will become less cyclical.”
Despite Putin's bluster about restoring Russian greatness, it is in considerable economic difficulty. The state budget is highly dependent on the sale of oil and gas. Andrey Movchan reports that 60 percent of consolidated budget revenues come from taxes either directly or indirectly related to the oil and gas sector.
OPEC's decision to allow a net importer into an organization of exporters is a reflection of a rapidly shifting energy landscape.
"If the U.S. tight oil industry experiences increasing economic difficulty in 2015, it won't likely be the direct result of a deal with Iran," said Deborah Gordon, director of energy and climate program with Carnegie Endowment for International Peace, in a recent interview with Xinhua.
“In China, the petcoke is little known to most of the statistics and even to the energy sector itself, so we cannot find the official data of the petcoke consumption in the national statistics book,” Wang Tao, resident scholar at Carnegie-Tsinghua Center for Global Policy, said in a Wednesday discussion at Carnegie Endowment for International Peace.