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Saudi Arabia’s recent moves into the liquefied natural gas (LNG) market may be a sign the giant oil exporter is looking to expand into a rapidly growing and politically influential market it had long ignored.
Hear in-depth conversations with the world’s top energy and climate leaders from government, business, academia, and civil society.
For years, Japan set aggressive decarbonization targets, positioning itself as a climate leader despite limited domestic resources. But recent geopolitical earthquakes like the ongoing war in Ukraine, increasing...
Energy Kingdoms Oil and Political Survival in the Persian GulfBy Dr. Jim Krane, Wallace S. Wilson Fellow for Energy Studies at Rice University’s Baker Institute for Public Policy After the discovery of oil in the 1930s, the Gulf monarchies—Saudi Arabia, Kuwait, Qatar, the United Arab Emirates, Oman, and Bahrain—went from being among the world’s poorest and most isolated places to some of its most ostentatiously wealthy. To maintain support, the ruling sheikhs provide their subjects with boundless cheap energy, unwittingly leading to some of the highest consumption rates on earth. Today, as summertime temperatures set new records, the Gulf’s rulers find themselves caught in a dilemma: can they curb their profligacy without jeopardizing the survival of some of the world’s last remaining absolute monarchies? In Energy Kingdoms, Jim Krane takes readers inside the monarchies to consider the conundrum facing the Gulf states. He traces the history of their energy use and policies, looking in particular at how energy subsidies have distorted demand. Oil exports are the lifeblood of their political-economic systems—and the basis of their strategic importance—but domestic consumption has begun eating into exports while climate change threatens to render the region uninhabitable. At risk are the sheikhdoms’ way of life, their relations with their Western protectors, and their political stability in a chaotic region. Backed by rich fieldwork and deep knowledge of the region, Krane expertly lays out the hard choices that Gulf leaders face to keep their states viable. About the AUthorJim Krane is the Wallace S. Wilson Fellow for Energy Studies at Rice University’s Baker Institute for Public Policy. He holds a Ph.D. from Cambridge University and is the author of City of Gold: Dubai and the Dream of Capitalism (2009). A former journalist, he was a correspondent for the Associated Press and has written for publications including the Washington Post, Wall Street Journal, and Financial Times. |
Earlier this month, China convened its “two sessions”—the annual concurrent meetings of the National People’s Congress (NPC), China’s legislature, and the Chinese People’s Political Consultative Congress, a political advisor body.
During a speech at the World Economic Forum in Davos last month, President Donald Trump urged Saudi Arabia and OPEC to increase oil production to lower prices and exert economic pressure on Russia.
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