[I]f oil prices stay low, the Saudis might not have enough time to buy up the world’s stocks before their core asset is totally devalued. And without oil, the Saudi state has little else holding it together. The result could be another chaotic failed state — and this time in the home of Islam’s holiest sites.
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Is Saudi Arabia the Next Failed State?
Posted April 26th, 2016 at 2:34 pm (UTC-5)
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Making Sense of the Mideast Oil Muddle
Posted March 21st, 2016 at 12:37 pm (UTC-5)
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Low oil prices don’t just affect the wealthy sheiks of the Gulf, but also the Kurdish peshmerga fighters operating on the front line against the Islamic State group. With the decline in market value comes a decline in oil exploration, and diminished budgetary expectations in countries like Iraq that are already hanging on by a thread.
The Upside of Plunging Oil Prices
Posted March 3rd, 2016 at 1:25 pm (UTC-5)
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Many big oil exporters just aren’t the kind of countries you’d want to bring home to mother….And in many cases — Russia, Iran, and Venezuela, for instance — their hydrocarbon bounty has enabled them to intimidate neighbors, fuel adventurism, and generally project a baleful influence.
Oil Dictator Dominos
Posted February 8th, 2016 at 4:45 pm (UTC-5)
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Central Asia’s oil-producing dictatorships, including Azerbaijan, have been among the countries hardest hit by the drop in prices – especially because, as ex-Soviet states, they remain heavily dependent on trade with Russia, another oil producer.
The Death Throes of Oil
Posted February 3rd, 2016 at 9:25 am (UTC-5)
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The possibility that the use of fossil fuels will one day be restricted creates a powerful incentive for oil producers to sell as much as they can before the limitations take effect. This logic might be behind Saudi Arabia’s response to plummeting oil prices: rejecting calls by OPEC to cut production.
Latin America’s Moment
Much of the world’s attention is understandably focused on developments in the Middle East, Europe, and Asia….But an unintended consequence…is that many governments, corporations, and people are missing much of what is going on in Latin America. And much of what is going on in Latin America right now happens to be good.