Energy Archive

Like the rest of the world, Turkey was blindsided by the sudden decision by Saudi Arabia, Egypt, the United Arab Emirates and Bahrain to cut all diplomatic, trade and transportation ties with Qatar earlier this month. Ankara is now scrambling to respond coherently to this new headache over Qatar, a state with which it has deepened ties in recent years. This is a strategic dilemma of the first degree for Turkey. If Turkish President Recep Tayyip Erdogan fails to stand by the only true Arab ally he has left, he could lose all semblance of influence in the Arab world. […]

This past week brought some further clarity to the underlying assumptions that drive U.S. President Donald Trump’s foreign policy. There’s now enough information to determine that the Trump team’s worldview is based on deeply held premises about the nasty, brutish nature of the human condition. He and his team are systematically walking away from the U.S. government’s decades-long emphasis on international cooperation and the architecture that supports it. The shift will have particularly dire consequences for the global community’s capacity to confront terrorism and climate change, with its impact on nuclear nonproliferation still an open question. In the aftermath of […]

Since the collapse of world oil prices in 2014, the wealthy Arab monarchies in the Persian Gulf have all faced difficult times, but especially Oman. Last month, things got even worse when Standard & Poor’s downgraded Oman’s credit rating to junk status over concerns with the country’s budget and revenue prospects as oil prices stay low. After recording average budgetary surpluses of 9.7 percent of GDP in the 2000s, Oman has seen fiscal deficits of 1.1 percent of GDP in 2014, 15.1 percent in 2015 and 20.6 percent in 2016. Unless oil prices increase significantly, the country will face the […]

After months of speculation, President Donald Trump announced Thursday his decision to withdraw the United States from the Paris climate change agreement. The move came in the face of high-profile pressure from a diverse set of voices—everyone from Pope Francis and U.S. military brass to business leaders such as Tesla CEO Elon Musk and ExxonMobil CEO Darren Woods, and other members of the G-7 had urged the U.S. president to remain in the accord. Nevertheless, Trump declared in the White House Rose Garden that “we’re getting out” of the landmark deal to reduce global carbon emissions. Trump immediately added that […]