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  • Author: Robert McNally
  • Publication Date: 01-2017
  • Content Type: Book
  • Institution: Columbia University Press
  • Abstract: As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations. Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how—even from the oil industry's first years—wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions—first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC—succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations—including mistakes to avoid—as we confront the unwelcome return of boom and bust oil prices.
  • Topic: Economics, Oil, OPEC
  • Political Geography: United States, Middle East
  • Publication Identifier: 9780231543682
  • Publication Identifier Type: ISBN
  • Author: Ching-Chang Chen, Denny Roy, Utpal Vyas
  • Publication Date: 04-2015
  • Content Type: Book
  • Institution: East-West Center
  • Abstract: The Kim Jong Un (KJU) regime, since its inception, has ratcheted up tension on the Korean Peninsula. His decision to dishonor what he had agreed to—a moratorium on nuclear tests and long-range missile launches as well as the return of IAEA (International Atomic Energy Agency) inspectors to Yongbyon—at several rounds of bilateral talks with the United States in February 2012 confirmed the belief that North Korea is a historically unpredictable and unreliable actor. Because the new North Korean leadership needed to fulfill its promise that North Korea would enter an “era of being a strong and prosperous nation ( gangseongdaeguk ),” pursuing economic recovery by easing tension through reconciliation with the international community, including the United States, was of significance. North Korea could have obtained nutritional assistance including corn, soy beans, vegetable oils, and ready-to-eat therapeutic food, but instead it initiated a string of provocations and hostile threats, which brought China's patience to the limits, strengthened UN sanctions, and consolidated the US position not to engage with North Korea before Pyongyang shows concrete steps for denuclearization. Hence, for the international observers, North Korea's gamble seemed to be a grave mistake.
  • Topic: Economics
  • Political Geography: China, North Korea
  • Author: Nanna Hvidt, Hans Mouritzen (eds.)
  • Publication Date: 08-2014
  • Content Type: Book
  • Institution: Danish Institute for International Studies
  • Abstract: Danish Foreign Policy and the activities of the Ministry of Foreign Affairs in 2013 were marked by the continuing economic and political diffusion of power on the global stage – a development that generates dynamism and new opportunities in the globalised world, but also challenges the position of Europe. The Permanent Secretary of State for Foreign Affairs describes the political and economic developments in the world – which have led to a far-reaching reorganisation of Danish diplomatic representations abroad – and analyses the most important Danish foreign policy priorities of 2013. The article emphasizes trends in the EU, in international security, and regarding the Arctic and the transatlantic dimensions, as well as developments in the Middle East, Asia and Africa, and finally global development trends.
  • Topic: Foreign Policy, Defense Policy, Economics, Foreign Aid
  • Political Geography: Africa, Europe, Middle East, Asia
  • Author: Peter A. Petri, Ambassador Tang Guoqiang
  • Publication Date: 01-2014
  • Content Type: Book
  • Institution: East-West Center
  • Abstract: The year 2014 marks the twenty-fifth anniversary of the first APEC Ministerial Meeting and the twentieth anniversary of APEC’s Bogor Goals. It’s time to shape the future by building on past achievements. If we look at the past 25 years of economic cooperation and integration in the Asia-Pacific region, I think it can be roughly divided into three stages.
  • Topic: Economics, International Cooperation, International Trade and Finance, Treaties and Agreements
  • Political Geography: Asia
  • Author: Brahim Saidy
  • Publication Date: 10-2014
  • Content Type: Book
  • Institution: Foreign Policy Research Institute
  • Abstract: The Gulf Cooperation Council (GCC), which brings together the countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, took an unprecedented step during its 34th Summit (held in Kuwait City on December 10-11 2013) by setting up a unified military command structure for its member states. This move reflects the commitment of the GCC to establish a credible joint defense force able to advance the goal of collective security in the region. This military command will have a force of around 100,000, half of which would be contributed by Saudi Arabia, the main advocate of this initiative. GCC members will coordinate air, land, and marine forces under one common structure. In this regard, Bahrain’s Foreign Minister, Sheikh Khalid Bin Ahmed Al-Khalifa, has stated: “We want to create a central command that coordinates between all sub-commands and makes them work under one umbrella. But, the new structure [the Unified Military Command] won’t replace the Peninsula Shield forces.”[1] In terms of collective defense, the core purposes of this command structure are to provide strategic and operational command for all GCC missions and prepare members for operational employment as interoperable multinational forces. This command is expected to have a minimum number of operational commands (land, air and maritime command) as well as joint intelligence system and integrated missile defense in order to execute essential operational and peacetime missions. The challenge for this plan is to be able to undertake command and control of the full range of the military missions, including command and control multinational and multiservice forces, but more importantly to be able to support operations under the political and strategic direction of the GCC. This means that the main goal is not limited to improving coordination between different parts of existing national defense systems, but rather to establishing a real joint operational command structure. The progress towards a fully integrated defense system would allow the GCC to become a real military alliance along the lines of NATO.
  • Topic: Security, Defense Policy, Economics, Politics
  • Political Geography: Saudi Arabia, Persian Gulf, Gulf Cooperation Council