Research Library

Despite its massive geological endowment and receiving what could be considered the largest windfall in its economic history, Venezuela entered 2020 in the middle of an unprecedented economic crisis. The Covid-19 pandemic and turbulence in oil markets represent the latest in a string of problems that expose the country’s vulnerability.

Changes in Russian natural gas policy point to a new strategy where Gazprom and Novatek follow different operating rules, allowing Russia to adjust to a changing natural gas market. The authors explain how this arrangement is playing out on the world energy landscape.

In the last of a series of reports on the USMCA, fellow David Gantz considers the trade-related matters that could affect the success of the USMCA as a mechanism for encouraging investment, creating new jobs and enhancing consumer welfare in North America.

Rather than offer a forecast that may overstate or understate Covid-19's impact on the U.S. and global economy, the authors highlight what to look for as the pandemic progresses, recedes or oscillates.

In this series of papers, the authors argue that Texas has a comparative advantage when it comes to implementing CCUS technologies, given the volume of CO2 emissions from industrial activity, the amount of oil and gas production, the scale of geologic storage potential, and the breadth of engineering and subsurface expertise in the state. Lawmakers and regulators can help facilitate the development of a robust CCUS industry in the state by addressing existing legal and regulatory uncertainties and by carefully considering pathways that can establish Texas as a leader in a low carbon energy future.

The oil glut and the unprecedented drop in demand, along with plummeting oil prices due to the coronavirus pandemic, is revealing the strengths and weaknesses of oil firms globally. The authors consider four NOCs — Ecopetrol, Petrobras, Petronas and Pemex — in the context of the current crisis.

Iron and steel production are necessary for modern infrastructure, and the sector is both energy intensive and difficult to decarbonize. The authors explore new, evolving processes that could change this and potentially provide both environmental and economic benefits.

This policy report explains how specific tools of economic statecraft can be applied to reduce risks caused by dependence on People’s Republic of China-dominated supply chains for critical goods. It offers foundational building blocks for the formulation and implementation of a larger strategy to reduce American vulnerabilities to China.

The COVID-19 pandemic has compounded concerns over a U.S.-China trade deal, write the authors, but a mutual commitment to long-term purchases could be the solution. Read more on the Baker Institute Blog. This post originally appeared in the Forbes blog on April 8, 2020.

"In a changing competitive environment, which the recent events affecting the global oil market clearly represent, a greater focus on ensuring and maintaining fair and open competition is critical to the long-term health of the market," said the authors in a written statement to the Texas Railroad Commission.