Saudi Arabia’s newfound willingness to take a stand against oil quota cheats has forced the rest of OPEC+ to adhere to their quotas. Will today’s discipline – driven by the biggest-ever plunge in oil demand – fade alongside the virus? Read more in the Baker Institute Blog.
The staggering collapse in Venezuela's oil and gas industry has renewed calls for liberalizing reforms. But a democratic transition and legal reforms may not be enough to attract the large investments needed.
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.
The history of the oil sector in the developing word has been characterized by cycles of investment, often followed by cycles of resource nationalism. Understanding the dynamics behind resource nationalism in Latin America is crucial for designing institutional frameworks that limit the cycles and induce long-term resource policies that foster the development of the abundant resource endowments in the region.
The authors explore the history of the resource curse and provide summarize the working paper series titled “The Role of Foreign Direct Investment in Resource-Rich Regions.”
Kenneth B. Medlock III, Keily MillerFebruary 24, 2020
Venezuela, which has one of the largest hydrocarbon endowments in the world, offers a striking case study on the resource curse, write Francisco Monaldi, Igor Hernández and José La Rosa.
This working paper is part of a series titled “The Role of Foreign Direct Investment in Resource-Rich Regions.”
Francisco J. Monaldi, José La Rosa ReyesFebruary 24, 2020
The authors evaluate Argentina’s energy sector and test the hypothesis that investments in tight oil and shale gas extraction expose investors to fewer risks than extracting conventional oil and gas.
This working paper is part of a series titled “The Role of Foreign Direct Investment in Resource-Rich Regions.”
Gabriel Collins, Mark P. Jones, Jim Krane, Kenneth B. Medlock III, Francisco J. MonaldiFebruary 24, 2020
Energy fellow Jim Krane investigates the strategy of “security through investment,” in which states deliberately use foreign direct investment to balance against a regional hegemon.
This working paper is part of a series titled “The Role of Foreign Direct Investment in Resource-Rich Regions.”
The authors examine the recent attacks on oil infrastructure in Saudi Arabia and other Persian Gulf nations to shed light on the current state of U.S.-Gulf strategic relations and the potential directions of its evolution in coming years.