Geopolitics and Saudi Arabia’s cash flow
The Gulf states have not sufficiently adjusted their spending patterns to lower income from oil exports. Burdened by persistent and growing budget deficits, they are increasingly hard pressed to fend off geopolitical rivals such as Iran. The trend has serious and lasting consequences for the Middle East and North Africa.
Oil market rebalancing and the future of ‘OPEC+’
In 2016, some oil-producing countries that were not part of OPEC joined with the cartel to agree on production cuts to shore up oil prices. At the time, plenty of observers were skeptical the group would hold together. But not only did it manage to implement the reductions (and extend them twice), it has put a floor under oil prices. Now that prices are rising, many again doubt the alliance will survive. But the realities of the oil market continue to make cooperation beneficial, especially for the two leading countries: Saudi Arabia and Russia.
Global Outlook 2018: The energy revolution and its growing uncertainties
How fast the world moves toward cleaner energy hinges on several difficult-to-predict factors, including climate change policies, the glut in oil and gas markets and disruptive technologies. What seems sure is that renewable energy sources won’t overtake fossil fuels in the medium term and that natural gas will loom larger in geopolitical conflicts.
GIS Dossier: Failed global climate policies
Since the 1990s, the international community has been trying to keep climate change under control – with less than stellar results. Despite initiatives like the 1997 Kyoto Protocol or the 2015 Paris Agreement, global temperatures are still well on track to increase by 2 degrees Celsius above preindustrial levels – the threshold scientists say could lead to dangerous climate effects. Geopolitics and market forces are mostly behind this failure – as GIS experts have been pointing out for some time. In this Dossier, we bring together the analyses that paint the picture of how we got here.
The many faces of Rosneft
Over the past decade or so, Russian oil giant Rosneft has concluded some eye-popping deals and more than doubled production. But its rapid growth has been based on questionable deals and huge debts. Behind the scenes, its CEO, Igor Sechin, has mastered Kremlin power plays. But his circle of enemies is growing. The future of Russia’s oil industry will hinge on how far he continues to push the envelope and whether Rosneft can overcome the legacy he has built.
GIS Dossier: Iran’s rise
Iran has methodically built up its influence in the Middle East to become one of the most important powers in the region. It has a growing foothold in Syria, Iraq, Yemen and Qatar. Its rise has inflamed tensions with Saudi Arabia, while a nascent rapprochement with the U.S. has withered under President Donald Trump. It is stepping up military interventions abroad, but remains deeply divided at home. This edition of our Dossier series reviews how Iran got here and our experts’ predictions about what this means for the region and the world.
The long road ahead for electric vehicles
The rise in popularity of electric vehicles has generated plenty of hype. But they still make up a tiny percentage of cars on the road, and are expensive relative to their gasoline- and diesel-burning counterparts. So far, their impact on the environment is minimal, even excluding the fossil fuels it takes to make them and the resource exploitation required for their batteries. While advances in technology can always surprise, there is no reason to expect the demise of the internal combustion engine anytime soon.