Fwd: Understanding the Oil Price Drop

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petro, economy

Begin forwarded message:

> From: Columbia University's Center on Global Energy Policy <energypolicy@columbia.edu>
> Subject: Understanding the Oil Price Drop
> Date: December 22, 2014 at 12:02:15 PM AST
> To: michael.d.mcdonald@mac.com
> Reply-To: Columbia University's Center on Global Energy Policy <energypolicy@columbia.edu>
>
> Center on Global Energy Policy—Understanding the Oil Price Drop
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> Understanding the Oil Price Drop
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> As oil prices continued to fall in December, the Center on Global Energy Policy responded quickly to inform the discussion of how the price drop is impacting consumers, producers and geopolitical relationships through a series of publications, media interviews and a public event. Be sure to follow the Center onTwitter and visit our website as our experts will continue to examine the impact and fallout of low oil prices around the world.
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> Publications
> The Implications of Lower Oil Prices for the US Economy Amid the Shale Boom
> Jason Bordoff and James Stock
> This policy brief explores the overall economic impacts of a sharp drop in oil prices for the United States. It was co-authored by Center Director Jason Bordoff and Harvard University Professor James Stock, who served until July 2014 as a Member of the President’s Council of Economic Advisers. Read the full text here>>
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> The Impact of Lower Oil Prices on the Mexican Economy
> Adrian Lajous
> The steep decline in crude prices over the past five months has put a spotlight on many oil exporting countries and the pressures they face due to lower revenues. As part of the Center on Global Energy Policy’s examination of the effect of lower prices on the global economy and geopolitics, Fellow Adrian Lajous explores the implications of lower oil prices for Mexico. Mr. Lajous served as the Director General of Pemex (CEO) and Chairman of the boards of the Pemex group of operating companies from 1994 to 1999. Read the full text here>>
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> For production cuts, oil market looks to OPEC, but OPEC looks toward US shale
> Bob McNally
> Many oil market participants were eyeing OPEC, and specifically Saudi Arabia, to see if it would reduce production in order to support oil prices. Robert McNally, fellow at the Center on Global Energy Policy and President of The Rapidan Group, explored this complex issue and its repercussions in a policy brief. Read the full text here>>
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> Op-Eds
> Center Director Jason Bordoff and Fellow Carlos Pascual have recently co-authored three op-eds. They explain why Ukraine is key to resolving Russia's crisis on CNBC.com. Writing in Reuters, they argue that while OPEC may be in hibernation, reports of its death are exaggerated. They also describe why energy leaders must have a much broader skill set than was required in the past in order to be effective.
> In the News
> Center Staff and Fellows discussed the implications of low oil prices for consumers, energy producers and global geopolitics across TV, radio and print media. Be sure to follow all Center news on our website.
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> TV
> Center Director Jason Bordoff discussed what low oil prices mean for US consumers and producers and the world’s major oil exporters on the Colbert Report, CNN, Bloomberg TV, and CNBC.
> Center Fellow Carlos Pascual discussed how the interaction of economic sanctions and falling oil prices is impacting Russia on CNBC.
> PRINT
> Center Staff and Fellows were quoted in: The Wall Street Journal, The New York Times, The Financial Times, The Washington Post, Reuters, Bloomberg, The HuffingtonPost, and The Christian Science Monitor.
> RADIO
> Center Director Jason Bordoff talked to NPR (All Things Considered | The Takeaway) about OPEC's motives, or lack thereof, for inaction on the falling oil prices.
> Events:
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> The Center on Global Energy Policy brought together distinguished experts for a discussion on thegeopolitical and global economic implications of the recent oil price drop, including what the the decline could mean for national budgets, internal political stability, currency fluctuations, diplomatic relations, and energy sanctions for key countries like Venezuela, Saudi Arabia, Iran, Nigeria, Russia, Mexico, China and others. Watch the event videohere or listen to the podcast here.
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