Bob McNally, a Non-Resident Fellow at the Center on Global Energy Policy and former Special Assistant to the President on the National Economic Council from 2001-2003, published an op-ed in the Wall Street Journal critical of how the IEA’s mission has changed to where it is today. In response, Jason Bordoff, the Founding Director of the Center on Global Energy Policy, shared reflections and critiques of points made in the piece on LinkedIn.
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Crude Volatility: No end in sight to boom-bust oil prices?
Past Event
February 5, 2019
6:00 pm - 7:30 pm utc
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Two years ago Robert McNally, President of Rapidan Energy Group and non-resident fellow at the Center on Global Energy Policy, published Crude Volatility: The History and the Future of Boom-Bust Oil Prices (Columbia University Press, 2017). Crude Volatility, the first in CGEP’s book series and the recipient of Honorable Mention for Economics at the 2018 PROSE Awards, surveyed and evaluated the history of the oil market through the prism of price stability and volatility, studying the factors that contributed to periods of relatively stable and unstable prices. McNally concluded that only during periods in which there was an effective swing producer, willing and able to adjust output to keep prices stable, were oil markets able to avoid the extreme price volatility that harms the oil industry and broader economy. He also asserted that the global oil market had been without a swing producer since 2008, which explained the wide gyration in crude prices in the period. In late 2016, just as Crude Volatility was heading to print, Saudi Arabia and Russia spearheaded a new attempt to manage crude supplies, bringing together 25 OPEC and non-OPEC producers in what is now called “OPEC-Plus.” OPEC-Plus successfully implemented production cuts over the last two years, which some analysts credit with stabilizing prices. Is OPEC-Plus the swing producer the oil market has been looking for? Can we expect more stable prices going forward? And what role are US shale and Washington energy policy playing in global oil stability? To address these and other questions, join the Center on Global Energy Policy for an event with Robert McNally and a distinguished panel of oil experts who will take stock of the analysis in Crude Volatility in light of the events over the last two years. Following McNally’s presentation, he will join Jamie Webster, fellow at the Center on Global Energy Policy and senior director at Boston Consulting Group’s Center for Energy Impact, and Marianne Kah, adjunct senior research scholar at the Center on Global Energy Policy and former chief economist at ConocoPhillips, on a panel moderated by Antoine Halff, senior research scholar at the Center on Global Energy Policy. — Guests unable to attend in person can view a livestream of the event at energypolicy.columbia.edu/livestream. This event is open to press. Please direct media inquiries and interview requests to Artealia Gilliard ([email protected]). For more information contact: [email protected].
A legacy of costs from oil and gas production will remain long after achieving a net-zero future. The Center on Global Energy Policy (CGEP) at Columbia University's School...
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• Faculty House - Seminar Ballroom
64 Morningside Dr, New York, NY 10027
https://www.youtube.com/watch?v=0pzw82IwDm0 Please join the Center on Global Energy Policy at Columbia University’s School of International and Public Affairs for this discussion series on how the application of Artificial...
The Center on Global Energy Policy (CGEP) at Columbia SIPA hosted a discussion on the policy and investment choices of national oil companies in the energy transition.
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• Pulitzer Hall - Lecture Hall
2950 Broadway, New York, NY 10027
Register to attend in person in NYC Register for the live stream A legacy of costs from oil and gas production will remain long after achieving a net-zero...
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• Faculty House - Presidential Ballroom
64 Morningside Dr, New York, NY 10027
After a wobbly first half of 2023,[1] when crude oil prices were affected by a banking crisis in the United States and the prospects of a recession in...
Earlier this month, OPEC+ leaders Saudi Arabia and Russia announced further voluntary production and export cuts, with the former alone accounting for nearly half of the OPEC+ aggregate.