By Prof. Gawdat G. Bahgat

ISBN-10: 0813026393

ISBN-13: 9780813026398

ISBN-10: 0813031885

ISBN-13: 9780813031880

"An very good learn of U.S. coverage on developing and keeping a country of power security."--Hafeez Malik, Villanova University

The usa is the world's greatest oil client and importer. the following Gawdat Bahgat examines the nation's growing to be dependence on fossil fuels--particularly oil--and the most demanding situations it faces in securing offers from energy-rich areas, the Persian Gulf and the Caspian Sea. He argues that long term U.S. strength process needs to be outfitted on variety of either the gasoline combine and the geographic beginning of that gasoline. it's going to contain a wide mix of measures that may stimulate family construction, supply incentives for conservation, advertise fresh applied sciences, and get rid of political limitations to international markets.

Bahgat additionally contends, although, that the objective shouldn't be power independence, yet discovering new methods of handling dependence on oil offers from overseas. He keeps that regardless of expanding reservoirs of oil and traditional fuel through the global, together with the Caspian Sea, the Persian Gulf will remain the most resource of U.S. fossil gasoline. Bahgat analyzes either contemporary and old demanding situations to the connection among the USA and Saudi Arabia, the world's greatest oil manufacturer and exporter, together with the Arab-Israeli peace strategy. He additionally discusses the hostility among the U.S. and Iraq and the demanding dating among the U.S. and Iran, together with such delicate themes because the proliferation of guns of mass destruction and terrorism, in addition to advancements within the wake of September eleven, 2001.

In his evaluation of the underdeveloped Caspian Sea reservoir, Bahgat means that power specialists and coverage makers have exaggerated the region's strength, mentioning logistical, financial, and political stumbling blocks that has to be conquer earlier than the quarter performs a huge function in generating fossil fuels. those hindrances contain family ethnic divisions, disputes over the criminal prestige of the Caspian, disagreements over the main within your means transportation routes, and adjustments within the sector within the aftermath of the warfare on terrorism.

Gawdat Bahgat, director of the guts of heart japanese experiences at Indiana collage of Pennsylvania, is the writer of The Gulf Monarchies: New monetary and Political Realities; the way forward for the Gulf; and The Persian Gulf on the sunrise of the recent Millennium.

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However, the industry has recently shown significant signs of recovery. Several developments have contributed to this apparent improvement in Russia’s energy sector. (1) The steep depreciation of Russia’s currency, the ruble, in the aftermath of the August 1998 financial crisis. This monetary initiative increased the competitiveness of Russia’s exports. (2) The sharp rise in oil prices in 1999 and 2000 provided badly needed extra cash to the Russian economy. (3) The election of Vladimir Putin as president in March 2000 put an end to a long period of speculation and brought a sense of stability to the political and economic systems in Moscow.

In addition, multinational oil and gas companies are employing their financial assets, management expertise, and technology, side by side with producing governments, to ensure stability in the global energy markets. Finally, producers, consumers, and the companies share an important concern—containing and reducing global pollution. Second, major oil- and gas-consuming regions have developed strategic partnerships with their close producing neighbors. These include the “Hemispheric Energy Policy” between the United States and Canada and Mexico, Western Europe and Russia, and East Asia and the Persian Gulf.

Given the declining production, limited reserves, and rising demand, the United States will continue to be dependent on oil supplies from abroad. The goal, therefore, is not to engage in a meaningless debate over energy independence but to find new ways of managing dependence. S. S. trade partners. Accordingly, it matters little if Gulf oil flows to Asia or to the United States. The global nature of oil trade and pricing means that an oil crisis would affect all. Sixth, achieving a state of stability in oil prices and security of supplies would benefit both producers and consumers.

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American Oil Diplomacy in the Persian Gulf and the Caspian Sea by Prof. Gawdat G. Bahgat

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