Energy Archive

As unrest grows in Venezuela, oil production mismanagement is turning the disaster from bad to worse. Find out more when you subscribe to World Politics Review (WPR). When oil prices started their collapse in 2014, plummeting from well above $100 a barrel to just over $29 by early 2016, the market drama sent shockwaves across the global economy, producing winners and losers. Oil importers benefited from sharply lower import costs, while producers’ economies, particularly those that rely on oil for the majority of their exports, went into crisis mode. That was the case in Venezuela, where oil production remained the […]

Leaders from Iraq and Jordan held a summit meeting earlier this month, where they signed a slew of agreements liberalizing trade and commercial ties. The meeting, which follows a visit to Iraq by Jordan’s King Abdullah II, is part of a recent intensification in Baghdad’s diplomatic outreach as it seeks to rebuild after its brutal, years-long war with the Islamic State. In an interview with WPR, Randa Slim, a senior fellow at the Middle East Institute, discusses Iraq’s post-ISIS foreign policy priorities. World Politics Review: What is Iraq’s interest in cultivating increasingly close economic and diplomatic ties with Jordan? Randa […]

The scale of the humanitarian disaster in Venezuela is almost inconceivable. Despite the world’s largest proven oil reserves, the economy barely functions. People struggle just to survive. Store shelves are nearly empty of food, medicine and other necessities. The few goods available are out of reach for most people because of hyperinflation that the International Monetary Fund estimates reached a shocking 1 million percent in 2018. An estimated 3 million Venezuelans have already fled to neighboring countries, and more will likely join them. Last fall, the Pharmaceutical Federation of Venezuela estimated that only around 20 percent of needed medicines were […]