Research Library

Fellow Joe Barnes looks back, and ahead, at the impact of President Obama's foreign policies.

The oil production targets agreed to at the November 30, 2016, OPEC meeting have created the firmest prospect in the past two years of a meaningful oil price recovery. If WTI prices rise and stabilize in the $60/bbl range, how fast can U.S. shale producers respond? This brief addresses the question and highlights the challenges U.S. unconventional liquids producers will likely face during a scale-up. It also points out price and timing inflection points likely to broadly influence industry decision-making.

With two corporate groups dominating Mexico's television sector, the country’s 2014 telecommunications reform established constitutional “must carry” and “must offer” (MC/MO) regulations. These regulations mandate that free-to-air broadcasters must allow pay TV companies to retransmit in the same coverage area without payment (must offer) and that pay TV companies must provide audiences with these free-to-air broadcasts without passing fees along to subscribers (must carry). While the reform legislation places rhetorical importance on promoting culturally diverse and pluralistic content for all broadcast audiences, there is little substantive commitment to these ideals. The Mexican variation of MC/MO is an ad hoc policy with many flaws. Ultimately, the Supreme Court will determine the future of MC/MO in Mexico. Given the reform’s legal framework, however, content diversity and pluralism will not be enhanced by MC/MO in Mexico.

As Congress resumes work this spring on a bill granting Trade Promotion Authority to President Obama for completion of the Trans-Pacific Partnership trade pact, many members have sought inclusion of a chapter on currency manipulation. Currency manipulation is a legitimate concern. However, countermeasures require clear, objective identification of currency manipulation. Both the IMF and the U.S. Treasury Department have mandates to identify currency manipulation, yet neither has done so in the past 20 years. If it can be done, why has it not happened more often? In this issue brief, Russell Green, Will Clayton Fellow in International Economics, reviews the difficulties of operationalizing a currency manipulation chapter and argues that the difficulty of identifying currency manipulation suggests serious political obstacles to implementation.

The Trans-Pacific Partnership Agreement offers an opportunity to deepen U.S.-Mexico economic ties without reopening the still contentious North American Free Trade Agreement for negotiation. It may also serve as a vehicle for advancing the current Mexican government’s economic reform agenda. The leaders of the U.S. and Mexico believe that the TPP will bolster domestic economic growth.

This issue brief identifies the four main reforms that the new Prime Minister Narendra Modi’s government must undertake to revive the manufacturing industry in India.