Brazilian President Dilma Rousseff is starting her second term in office facing economic and political problems that feed into each other. These problems can be attributed to a large extent to mistakes her administration made during her first term. Rousseff’s macroeconomic policy proved to be inconsistent, and the choices she made in some key economic sectors, especially energy, were demonstrably disastrous. Rousseff now faces the enormous challenge of reconciling the leftwing populism that led her to victory with the inescapable need to regain the trust of the most dynamic sectors of Brazilian society, including the private sector.

In this paper, author Peter Hartley examines the recent evolution of markets for LNG, focusing especially on the increasing amount of LNG being traded spot or under short-term contracts of less than four-years duration. Hartley argues that explanations for this increase, and other recent changes in LNG trading, imply that the proportion of LNG being traded under long-term contracts is likely to continue to decline and that the flexibility of long-term contracts for trading LNG is likely to continue to increase.

A paper discussing the nature of natural gas pricing in Asia and forecasting changes in the pricing paradigm as well as the global market.

How natural disasters can and do disrupt elections.

Allowing the producer-dominated market to set drug prices has spiraled the cost of cancer drugs out of control. Drug pricing can be reduced while preserving the profit-making incentive, by linking price to a true measure of quality: preservation and meaningful prolongation of life.

This testimony was delivered before the U.S. Senate Committee on Energy and Natural Resources on February 12, 2013.

 

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Testimony of Kenneth B. Medlock III James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics, and Senior Director, Center for Energy Studies James A. Baker III Institute for Public Policy Rice University To the Senate Committee on Energy and Natural Resources Washington, D.C. February 12, 2013

To access the full paper, download the PDF on the left-hand sidebar.

I. Introduction

Even a cursory glance across the…

Introduction

Figure 1

The marshes, bays, and estuaries of the upper Texas Gulf Coast form a complex matrix of rich…