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Filtering by Category: World Energy & Oil
Moisés Naím / World Energy & Oil
The cradle of civilization, this corner of the world has always been characterized by instability. Now, thanks to energy, it could become a new focal point of development and unexpected opportunities.
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Lately, Mother Nature seems to be trying to get our attention. Its signals are increasingly loud, strident and hard to miss. Some have been lethal. 2015 is poised to become the hottest year on record. Last October, Hurricane Patricia, the strongest ever recorded by meteorologists, produced record winds that reached 200 miles per hour. Average temperatures in the Artic have been increasing twice as fast as temperatures in the rest of the planet. This contributes to the thawing of the icecovered polar surface. Every 10 years, this ice cover shrinks by 9%. Scientists expect that polar thawing will raise sea levels to such a point that the populations of many highly urbanized coastal areas will be forced to move to higher ground.
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Will OPEC disappear? Has the shale boom inflicted a mortal wound? Here is a breakdown of seven big arguments about the organization’s future.
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Lower prices had a direct impact on exporting countries such as Russia and Venezuela. These impacts produced their own “second order” effects that are only just being felt. Many of these effects will be negative, but some will have positive results, as governments take the opportunity to initiate reforms.
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Over the next ten years, the energy market will undergo profound transformations, driven by revolutionary technologies that will significantly shift the balance between importing and exporting countries.
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Rising instability in some oil-producing countries could mean unprecedented challenges for Washington. The future may see conflict over shale gas’s environmental impact or disruption of the existing political order.
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Inadequate water resources will be a destabilizing factor. Technologies and projects to deal with this problem already exist, but political initiative has been insufficient at best, and mostly non-existent.
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New operators, trade agreements, ownership structures, locations and technological innovations are pushing refining into hitherto unexplored places and situations.
Moisés Naím / World Energy & Oil
Although the area holds immense riches, it is extremely difficult to translate this potential into reality. Critical environmental, technological, political and institutional questions remain unanswered.
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From the Texan engineer who invented the techniques for extracting shale gas to the U.S. Secretary of Defense, and from the chairman of CNOOC – who is driving the overseas development of Chinese companies – to the head of Rosneft.
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