The UAE’s “net zero by 2050” emissions plan begs the question: Can they do that? The world’s No. 7 oil producer is also a huge carbon emitter. But the UAE has surprising advantages. Continue Reading
Saudi-UAE relations are in free fall. Should we be alarmed? No. These monarchies have a long history of bad blood and border disputes. This time, the breakdown turns out to be good for Iran. Continue Reading
A hefty tax on methane emissions is needed to push the US natural oil and gas industry to fix leaky pipes. Globally, America is now second only to Russia in methane emissions. Since methane’s warming potential is far worse than carbon dioxide, a minimum tax of $1,500 per ton emitted. Continue Reading
As the Texas legislature barrels ahead with remedies for preventing deadly blackouts like those that swept the state in February, we still can’t pinpoint the exact points of failure on the Texas power grid and natural gas system. New revelations by ERCOT suggest that early assessments were incorrect. As the facts continue to emerge, we suggest a few market design remedies to improve weatherization incentives. Continue Reading
Most places prepare for the cold by protecting their critical infrastructure from freezing up. Texas does not. Lax regulation exposed electricity producers—and their customers—to failures that killed off all four of Texas’ top generating types: natural gas, wind, coal and nuclear. We look at each technology to show what failed. We also show how more cautious jurisdictions routinely deal with the problems that took Texas offline. Continue Reading
OPEC is in fighting form. Since the disastrous Saudi-Russia price war, OPEC has stepped up its game, fixing global oil markets in the midst of an unprecedented demand collapse, and exacting revenge on quota cheaters – just in time for its 60th birthday. Continue Reading
Leveraging a crash in oil revenue, the Saudi government has quickly imposed unprecedented changes to the way it raises cash, by raising taxes and slashing subsidies in ways Saudi citizens once considered unthinkable. Continue Reading