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1. The Good News About Gas

Author:
John Deutch
Publication Date:
01-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Thanks to technological advances, in the past few years, vast amounts of natural gas -- particularly shale gas -- have become economically viable. This development is an unmitigated boon for consumers interested in affordable energy and for governments hoping to reduce their countries' dependency on foreign oi.
Topic:
Oil
Political Geography:
Russia, Iran, Saudi Arabia, Turkmenistan, North America, and Qatar

2. A Crude Predicament

Author:
Michael Levi and Robert McNally
Publication Date:
07-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Saudi Arabia and other OPEC members have long maintained large oil reserves to limit volatility in oil prices. But with key states now refusing to maintain such expensive buffers, the world must learn how to cope with big price swings in the years ahead.
Political Geography:
Saudi Arabia

3. Will Oil Drown the Arab Spring?

Author:
Michael L. Ross
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Summary: No state with serious oil wealth has ever transformed into a democracy. Oil lets dictators buy off citizens, keep their finances secret, and spend wildly on arms. To prevent the “resource curse” from dashing the hopes of the Arab Spring, Washington should push for more transparent oil markets -- and curb its own oil addiction. MICHAEL L. ROSS is Professor of Political Science at the University of California, Los Angeles, and the author of the forthcoming book The Oil Curse: How Petroleum Wealth Shapes the Development of Nations. Even before this year's Arab uprisings, the Middle East was not an undifferentiated block of authoritarianism. The citizens of countries with little or no oil, such as Egypt, Jordan, Lebanon, Morocco, and Tunisia, generally had more freedom than those of countries with lots of it, such as Bahrain, Iraq, Kuwait, Libya, and Saudi Arabia. And once the tumult started, the oil-rich regimes were more effective at fending off attempts to unseat them. Indeed, the Arab Spring has seriously threatened just one oil-funded ruler -- Libya's Muammar al-Qaddafi -- and only because NATO's intervention prevented the rebels' certain defeat. Worldwide, democracy has made impressive strides over the last three decades: just 30 percent of the world's governments were democratic in 1980; about 60 percent are today. Yet almost all the democratic governments that emerged during that period were in countries with little or no oil; in fact, countries that produced less than $100 per capita of oil per year (about what Ukraine and Vietnam produce) were three times as likely to democratize as countries that produced more than that. No country with more than a fraction of the per capita oil wealth of Bahrain, Iraq, or Libya has ever successfully gone from dictatorship to democracy. Scholars have called this the oil curse, arguing that oil wealth leads to authoritarianism, economic instability, corruption, and violent conflict. Skeptics claim that the correlation between oil and repression is a coincidence. As Dick Cheney, then the CEO of Haliburton, remarked at a 1996 energy conference, "The problem is that the good Lord didn't see fit to put oil and gas reserves where there are democratic governments." But divine intervention did not cause repression in the Middle East: hydrocarbons did. There is no getting around the fact that countries in the region are less free because they produce and sell oil.
Topic:
NATO, Government, and Oil
Political Geography:
Iraq, Ukraine, Middle East, Kuwait, Libya, Vietnam, California, Saudi Arabia, Spain, Lebanon, Egypt, Jordan, Bahrain, and Tunisia

4. Saudi Arabia in the New Middle East

Author:
F. Gregory Gause III
Publication Date:
12-2011
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
There is arguably no more unlikely U.S. ally than Saudi Arabia: monarchical, deeply conservative socially, promoter of an austere and intolerant version of Islam, birthplace of Osama bin Laden and fifteen of the nineteen 9/11 hijackers. Consequently, there is no U.S. ally less well understood. Many U.S. policymakers assume that the Saudi regime is fragile, despite its remarkable record of domestic stability in the turbulent Middle East. “It is an unstable country in an unstable region,” one congressional staffer said in July 2011. Yet it is the Arab country least affected in its domestic politics by the Arab upheavals of 2011. Many who think it is unstable domestically also paradoxically attribute enormous power to it, to the extent that they depict it as leading a “counterrevolution” against those upheavals throughout the region. 2 One wonders just how “counterrevolutionary” the Saudis are when they have supported the NATO campaign against Muammar al-Qaddafi, successfully negotiated the transfer of power from Ali Abdullah Saleh in Yemen, and condemned the crackdown on protestors by Syrian president Bashar al-Assad, and how powerful they are when they could do little to help their ally Hosni Mubarak in Egypt.
Topic:
Security, Foreign Policy, Diplomacy, Economics, International Trade and Finance, Islam, Oil, and Bilateral Relations
Political Geography:
United States, Middle East, Arabia, and Saudi Arabia

5. Getting Deradicalization Right

Author:
Jessica Stern and Marisa L. Porges
Publication Date:
05-2010
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
No abstract is available.
Topic:
Government, Islam, and Reform
Political Geography:
United States, Iraq, and Saudi Arabia

6. Mind Over Martyr

Author:
Jessica Stern
Publication Date:
01-2010
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Is it possible to deradicalize terrorists? The success of a rehabilitation program for extremists in Saudi Arabia suggests that it is -- so long as the motivations that drive terrorists to violence are clearly understood and squarely addressed.
Topic:
War
Political Geography:
Iraq, Europe, and Saudi Arabia

7. China's $1.7 Trillion Bet: China's External Portfolio and Dollar Reserves

Author:
Brad W. Setser and Arpana Pandey
Publication Date:
01-2009
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
China reported $1.95 trillion in foreign exchange reserves at the end of 2008. This is by far the largest stockpile of foreign exchange in the world: China holds roughly two times more reserves than Japan, and four times more than either Russia or Saudi Arabia. Moreover, China's true foreign port- folio exceeds its disclosed foreign exchange reserves. At the end of December, the State Administration of Foreign Exchange (SAFE)—part of the People's Bank of China (PBoC) managed close to $2.1 trillion: $1.95 trillion in formal reserves and between $108 and $158 billion in “other foreign assets.” China's state banks and the China Investment Corporation (CIC), China's sovereign wealth fund, together manage another $250 billion or so. This puts China's total holdings of foreign assets at over $2.3 trillion. That is over 50 percent of China's gross domestic product (GDP), or roughly $2,000 per Chinese inhabitant.
Topic:
International Relations, Debt, Economics, Emerging Markets, and International Trade and Finance
Political Geography:
Russia, United States, China, Israel, Asia, and Saudi Arabia

8. The King and Us: U.S.-Saudi Relations in the Wake of 9/11

Author:
David Ottaway
Publication Date:
05-2009
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
The exchange of oil for security no longer defines the relationship between Saudi Arabia and the United States. Still, the two countries can restore healthy ties by addressing common concerns such as Pakistan and the Palestinian territories.
Political Geography:
Pakistan, United States, Palestine, and Saudi Arabia

9. Low and Behold

Author:
Edward L. Morse
Publication Date:
09-2009
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
After dropping from close to $150 in the summer of 2008 to under $34 last winter, the price of oil had more than doubled by the spring and was hovering around $60 in July. It is unlikely to rise to last summer's peak anytime soon. To the contrary, there are good reasons to believe that lower prices are here to stay for a while. Last year's high prices and the recession have severely damped demand, and the growth of new production capacity, especially in Saudi Arabia, is buoying supplies. The rapid fall and then rebound in oil prices over the past year surprised many people. But it was not unusual: commodities markets are cyclical by nature and have a history punctuated by sudden turning points. Although this generally makes it difficult to forecast prices, it is safe to say that commodities markets will remain lower over the next few years than they have been over the past five. In the oil industry, the most important new factor that accounts for low prices is the return of surplus production capacity among the members of the Organization of the Petroleum Exporting Countries (OPEC) for the first time since 2002-3. Most oil industry analysts expect high prices to return soon, along with economic recovery. This is probably a mistaken view; more likely, the prices for oil and other commodities will be range-bound again. This would be a happy development, as it would provide unusual opportunities to tame the volatility in prices. An extended period of low prices could reverse the trend toward resource nationalism, the tendency of producing countries to concentrate control over their resources in the hands of state-run entities, that has characterized energy politics for most of the last decade. It would also translate into new chances for constructive diplomacy with oil producers and set the stage for more balanced relationships between energy producers and their buyers.
Topic:
Diplomacy
Political Geography:
Saudi Arabia

10. Transforming Nations: How the WTO Boosts Economies and Opens Societies

Author:
Peter D. Sutherland
Publication Date:
03-2008
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
The World Trade Organization has changed the world in the past decade by welcoming China and transforming national fortunes in Cambodia and Saudi Arabia. It provides the catalyst that political leaders need to reform.
Political Geography:
China, Cambodia, and Saudi Arabia