Burning Oil Well. Image: LCpl. Dick Kotecki/Wikimedia
This article was originally published by the Atlantic Council on 3 December, 2015.
At the 2015 Atlantic Council Energy and Economic Summit in Istanbul, twenty-one Ministers and senior officials from Europe, Asia, North America, and the Middle East met to assess the changing geopolitics of energy security. The assembly was a reminder that energy security — the ability of a nation to secure affordable, reliable, and sustainable supplies to maintain national power — is very different for each nation.
It was clear that advances in technology — in oil and gas, and renewables — have changed the geopolitics of energy dramatically, and mostly for the better, from the world of 2008 or even 2011. We have moved from an era of resource scarcity to abundance, from a concentration of resources to ubiquity of access, and from monopoly power in oil and gas to gas on gas competition in Europe. There is now a clear de-linkage of oil and gas pricing, more hub pricing and a growing spot market in LNG. Floating LNG and containerized shipping are enabling lower cost and quicker access of nations to gas, helping them move away from coal. US shale, with huge resources, low extraction costs, and rapid drilling times may help put a ceiling on the price of oil. Changes in wind, solar, and energy efficiency technology have driven down the cost of renewables in many countries, making them cost competitive with coal or gas in many cases. » More
A fracking site near Los Angeles.Image:Erik Gustafson/Flickr
This article was originally published by New Security Beat, the blog of the Environmental Change and Security Program (ECSP) at the Wilson Center, on 26 March, 2015.
The past decade has brought ground-shaking changes to global energy markets. The unconventional fuel boom has unexpectedly reduced U.S. dependence on oil imports, while in the Asia-Pacific region, energy-constrained nations are increasingly reliant on foreign sources to meet their soaring demand. With the U.S. slated to export liquid natural gas (LNG) to Asia as early as 2017, a new energy era has come.
The shifting landscape is forcing countries such as Japan, South Korea, and China to rethink regional cooperation on energy issues such as strategic oil stocks, and technological and institutional coordination, said Mikkal E. Herberg, senior lecturer at the University of California, San Diego, and research director of the Energy Security Program at the National Bureau of Asian Research, at a Capitol Hill event on February 24. » More
Image: Héctor Romero/Flickr
This article was originally published by the East-West Center in the 277th edition of the Asia Pacific Bulletin on 19 August, 2014.
The major ally of the United States in the Asia Paciﬁc, Japan, has undertaken repeated reforms since the end of the Cold War and especially since the collapse of its economic “bubble’ in the early 1990s. These have spanned the country’s electoral, administrative, educational, and security sectors. Although some of these changes have been potentially transformational, many have been largely transitional. Cautious incrementalism has largely won out over bold renewal. » More
A sign in Argentina reads: ‘The Falklands are Argentinian.’ Photo: Gilmar Mattos/flickr
Next month will determine the eventual fate of the Falkland Islands—and the 1.4 billion barrels of oil so far discovered there—when a referendum on self-determination is held.
In the run-up to that referendum, Argentina has stepped up the rhetoric, most recently with the Argentine Foreign Minister claiming that within 20 years, the Falkland Islands will be entirely under Argentina’s control.
UK Foreign Secretary William Hague has responded by calling this a counterproductive “fantasy”. Hague says the government of Argentine President Cristina Fernandez de Kirchner has refused diplomatic dialogue and chosen instead a path of “bullying”. » More
This blog is republished here as part of our special holiday selection.
Jonah natural gas field near Pinedale, WY, US. Photo: World Resources/flickr.
CAMBRIDGE – When President Richard Nixon proclaimed in the early 1970’s that he wanted to secure national energy independence, the United States imported a quarter of its oil. By the decade’s end, after an Arab oil embargo and the Iranian Revolution, domestic production was in decline, Americans were importing half their petroleum needs at 15 times the price, and it was widely believed that the country was running out of natural gas.
Energy shocks contributed to a lethal combination of stagnant economic growth and inflation, and every US president since Nixon likewise has proclaimed energy independence as a goal. But few people took those promises seriously. » More