- "How to Curb Tehran’s Oil Exports," Saeed Ghasseminejad, The National Interest
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When Energy Markets And Geopolitics Collide
by Victoria Coates via The Caravan In the summer of 2020, the usually discrete spheres of energy markets and geopolitics collided when Chevron Corporation announced it was buying Noble Energy for five billion dollars—a deal that meant every bit as much to establishing a sustainable peace in the Middle East as the Abraham Accords signed some six weeks later on the lawn of the White House by Israel, Bahrain, the UAE and the United States.  The States Power Down Ambitious renewables mandates by local governments are eroding the electric grid’s reliability, with alarming consequences. Earlier this week, The Atlantic featured a long-form piece on how challenges with nuclear energy have shifted away from environmental activist opposition (“nuclear greens” are on the rise) and into the nuclear industry itself. For City Journal, James B. Miegs sets forth the challenges underlying nuclear power’s return to prominence. GOP Pushes Tougher China Dual-Use Sanctions By Bryant Harris, Defense News: “Republicans are using their brand-new House majority to push for tougher China sanctions enforcement on dual-use equipment even as the Biden administration greatly expands sweeping new export controls on U.S. technology that could be used by the Chinese military." Record Defense Budget Flunks the China Test By Jeffrey Jeb Nadaner, RealClearDefense: "While most lines of that $858 billion defense appropriation are necessary, it fails in its totality." Denial May Bring War – Punishment May Keep It at Bay
From CDR Salamander:"don't threaten the PRC with an easy war"
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INTEGRATE EASTERN MEDITERRANEAN REGION
JAMES B. MEIGS
Delayed Reaction Nuclear power mounts a comeback, but obstacles remain.
Oil prices fall to lowest level since January, despite Saudi-backed production cut
The price decrease could be worrisome for Saudi Arabia and its investment plans.
Egypt embarks on new plans to develop river transport on Nile River
Cairo has recently passed legal reforms to reorganize the river sector, which still remains marginal, in hopes this will catalyze much-needed private investments
As US watches, China and Saudi Arabia shy away from defense deals during Xi's visit
Pentagon officials are closely watching what deals result from the Chinese president's meetings with Arab leaders.
MARK P. MILLS
Can American Producers Head Off Looming Oil Shortages? A legislative embrace of policies allowing increased hydrocarbon production could move world energy markets.
Europe Is Losing the Energy War
Here’s how the continent can fight back.
Germany Takes Control of Russian-Owned Refineries Amid Energy Crisis
The German government seized control of three refineries (FT) owned by Russian oil company Rosneft before a European Union embargo on Russian crude oil takes effect in December. Operations at the refineries were disrupted (WSJ) after some banks and firms stopped doing business with Rosneft amid Western sanctions. Rosneft accounts for about 12 percent of Germany’s oil refining capacity. Germany has worked to ensure its energy security and control soaring energy prices ahead of the embargo, passing a law to bring back coal-fired power plants, among other actions. It is also considering taking over three of its largest gas companies, Bloomberg reported. “The Schwedt refinery [one of the three seized] was the biggest obstacle to Germany accepting the ban on Russian oil imports because thousands of jobs in the region depend on it,” the Wall Street Journal’s Georgi Kantchev and Bojan Pancevski write. “The first German companies have begun throwing in the towel and consumption is collapsing in response to the fallout from exploding energy prices. The economy is sliding almost uncontrolled into a crisis that could permanently weaken the country,” Der Spiegel writes. This video looks at Europe’s energy bind.
Egypt as an Eastern Mediterranean power in the age of energy transition
The emergence of Egypt as an Eastern Mediterranean energy hub resulted from a culmination of years of deliberate efforts. Increasingly, Egypt will be able to re-export Israeli natural gas or convert it into blue hydrogen, generate green electricity for export, or utilize its growing wind and solar power capacity to produce green hydrogen. Read article
Germany Bails Out Gas Importer Uniper. German gas importer Uniper received a state bailout of 15 billion euros ($15.2 billion) after reduced Russian gas supplies crippled the company. As part of the bailout, the German government will take a 30 percent stake in Uniper. Uniper’s majority share-holder Fortum, a Finnish energy firm, will hold 56 percent in the company down from 80 percent currently. Al Jazeera Deutsche Welle
Russia Denies Pipeline Turbine In Transit. Russia on Friday rejected a Reuters report that a turbine for the Nord Stream 1 pipeline is stuck in transit. The report alleges that Moscow has yet to approve the return of the turbine from Germany to Russia. Kremlin spokesperson Dmitry Peskov called the report “nonsense” and “groundless.” Russia blames reductions in gas flows through the pipeline on the turbine, which was in Canada for repairs and initially blocked by Western sanctions. Germany instead says Russia is using gas as a political weapon. Bloomberg Reuters  Meanwhile, energy consumers around the globe continue to feel a squeeze. U.S. natural gas production has slowed over the past few months despite supply shortages. Across the pond, UK lawmakers have offered energy-intensive industries a relief package after the country experienced a massive uptick in energy costs. However, soaring energy bills for businesses and families alike has not discouraged a bipartisan group of lawmakers from proposing a “border carbon adjustment” tariff. Writing for City Journal, Mark Mills criticizes that proposal as one that would fuel inflation at a particularly terrible time while not addressing its purported climate-related goals. Instead, Mills points to next-generation nuclear power and other technological innovation as a more viable path toward addressing the country’s energy needs.
Pump Politics
The Biden administration has floundered over how to respond to rising gas prices—but a solution to the problem is simple.
Europe and UK Gas Shortage May Accelerate Inflation
Allison Schrager, E21 Europe and the UK are experiencing a gas shortage that threatens to undermine its goals, and wide-spread support, for a zero-emissions future. It also leaves them more dependent on Russia. Energy operates in global markets, which means gas prices in the US are also on the rise. Read more here....
Oil prices continue to rise as Saudi Arabia and Russia talk production
The price of Brent crude continued to increase above its pre-pandemic levels during the OPEC+ meeting Thursday.
Germany's Empty Pipeline Logic
by Josef Joffe via Project Syndicate Nord Stream 2, the almost-finished pipeline running directly from Russia to Germany, is not really about securing cheap natural gas. It is about personal gain and these two countries’ national interest.
Energy Policy Insight
featuring Admiral James O. Ellis Jr., Michael J. Boskin, James L. Sweeney, Daniel Heil Over the last quarter century, the United States has experienced a dramatic transformation. With little fanfare, an energy revolution has occurred that has profoundly altered the nation’s economy, its national security, and its environment.  "Nord Stream 2 Sanctions Present an Early Test for the Biden Administration,"
Matthew Zweig and John Hardie, FDD Policy Brief  Saudi Aramco sees massive drop in third quarter profits The Saudi oil giant's slump is indicative of the crisis in Middle Eastern and global oil as the COVID-19 pandemic continues. JONATHAN A. LESSER The “Transition from Oil” and Other Fairy Tales Politicians promising a painless switch to renewables are deluding themselves—or more likely you. Russia, Iraq face OPEC+ cuts, look to new deals While Iraq's dependence on imported Iranian electricity continues to worry Washington, the key to breaking this energy dependence lies in the development of its own gas fields. Gulf economies face major challenges in post-COVID 19 world
Signals indicate the embargo imposed on Qatar could come to an end, but can the Gulf Cooperation Council play a coordinating role vital to diversify Gulf economies post-pandemic? |
AuthorSouthwest Asian political economy analyst, Radio & Media Personality. Archives
October 2023
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