Oil prices are expected to surge following OPEC’s announced plan to initiate oil production cuts. Fellows Jim Krane and Mark Finley explain how the cuts affect Saudi Arabia’s influence within OPEC and what it means for our fuel prices.
The need for crude is expected to grow, but fellow Jim Krane said policymakers should focus on lessening demand. "If you target supply in the U.S. without any kind of measures to bring demand down, refiners are just going to pull their oil from overseas."
A glut of associated gas in the Permian Basin could cause a clash between producers and buyers trying to minimize emissions. It’s for the Texas Railroad Commission to decide, said fellow Jim Krane: “[Will we] maintain the view that gas is a waste product?”
"Saudi Arabia holds major advantages in decarbonisation," Baker Institute fellow Jim Krane told The Economist. He pointed to vast tracts of empty, sunny land with a geology tailor-made for storing carbon emitted in adjacent industrial areas.
"The Qataris are not going to let a big European energy crisis go to waste," fellow Jim Krane told The New York Times, as Russian energy exports to the continent slow and Qatar maneuvers to become a critical source of natural gas.