You searched for: Content Type Research Paper Remove constraint Content Type: Research Paper Publishing Institution Brown Journal of World Affairs Remove constraint Publishing Institution: Brown Journal of World Affairs Political Geography Saudi Arabia Remove constraint Political Geography: Saudi Arabia Publication Year within 5 Years Remove constraint Publication Year: within 5 Years Publication Year within 25 Years Remove constraint Publication Year: within 25 Years Topic Environment Remove constraint Topic: Environment
- Author: Charles F. Doran
- Publication Date: 06-2020
- Content Type: Research Paper
- Institution: Brown Journal of World Affairs
- Abstract: By attacking a major Saudi oil facility at Abqaiq on 13 September 2019, Iran established a new norm regarding oil security. Now, no oil field, pipeline, refinery, supertanker, or port facility is free from internecine warfare between oil-producing (OPEC) governments. Ironically, in attempting to defend a country from supply interruption, the United States risks worsening the magnitude and scope of that supply interruption rather than preventing its occurrence. In the era of highly accurate drones and missiles, the old oil field motto “all oil comes from a single barrel” has taken on a newly negative connotation. World oil stability rests on a precipice. Both exporters and importers suffer from supply interruption, although perhaps not equally, universally, or simultaneously. Supply interruption may benefit those who have oil to sell through resultant oil price increases if their own exports have not been interrupted. The same cannot be said for buyers who, unless they are energy speculators on the futures market, ardently want to prevent supply interruption and the virtually certain subsequent (though sometimes not lasting) increase in price.
- Topic: Energy Policy, Environment, International Political Economy, Oil, OPEC, Pipeline
- Political Geography: Saudi Arabia, Global Focus