Global Need for Energy - September 2008

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The Future of Saudi Oil

The Middle Eastern economy has thrived on oil profits since the 20th century, with six Middle Eastern states making the list of the world’s top 15 oil exporters. As oil prices soared to $147 a barrel in July, Saudi Arabia stood by a June pronouncement to increase output above its average production rate for the remainder of 2008. The move by the House of Saud was the product of many forces—Saudi Arabia’s geopolitical interests, diplomatic pressure from developed countries with diminishing reserves, and security concerns regarding Iranian profits from inflated oil prices. The announcement was approved by Abdallah bin Abd al-Aziz Al Saud, who has served as King and Prime Minister since 2005.

September 1, 2008
Foreign Policy Digest Editors
Global Need for Energy - September 2008

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Scared Into Action? The EU's Energy Future

At their respective parties’ national conventions, John McCain and Barack Obama called attention to America’s need for energy independence. With the rising cost of oil and the United States’ dependence on foreign resources, both candidates have linked a more self-sufficient energy policy with national security, climate change, and the creation of jobs at home. Limited resources and the increasing global demand for energy are straining governments all over the world. This is particularly true of one of America’s largest partners on many world issues: the European Union (EU)...

September 1, 2008
Ryan Kaiser
Global Need for Energy - September 2008

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New Zealand's Energy Madness is Catching On

In 2004, Dr. Chris Mardon co-founded Energy Mad with the goal of reducing climate change through economical energy savings. Less than four years later the company announced a new initiative to solve the carbon emissions problem one household at a time. Energy Mad has created the first system for individuals and families to go carbon neutral.

September 1, 2008
Olivier Kamanda
Global Need for Energy - September 2008

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What the U.S. Can Learn from Brazil’s Energy Successes

With U.S. gas prices rising to record levels over the past year and contributing to fears about the national economy, both Democrat and Republican Presidential candidates alike are focusing on the need to change U.S. energy policy. A major cornerstone of Democratic candidate Senator Barack Obama’s energy policy has been the need to promote alternate energy sources, particularly biofuels. Republican candidate Senator John McCain, on the other hand, has particularly emphasized the need to expand domestic drilling, especially offshore drilling. Both candidates agree, however, on the need to develop energy independence from foreign oil suppliers.

September 1, 2008
Adam Benz
Global Need for Energy - September 2008

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Africa a Hotspot for Oil Investment

With the price of oil having more than quadrupled since 2004, governments are negotiating more and more deals in oil-producing African states, now hotspots for foreign investments. African industries have historically been overlooked as potential investments because of political and economic instability on the continent, yet with African markets growing steadily, investors are seeing the continent as an attractive opportunity to capitalize on emerging industries and markets. Despite rampant poverty on the continent, especially in Sub-Saharan Africa, African investments in fact provide “the highest returns on foreign direct investment of any region in the world,” according to the World Bank.

September 1, 2008
Cathy Fisher
Global Need for Energy - September 2008