Iran Nuclear Deal: There Is No Alternative

On April 3, President Obama called Israeli Prime Minister Netanyahu to fill him in on the P5+1 deal with Iran. But the prime minister wasn’t buying. He told the President: “The deal based on this framework would threaten Israel’s survival (and would) legitimize Iran’s nuclear program, bolster Iran’s economy, and increase Iran’s aggression and terror […]

Why Muslims Fell Behind Economically

I really do not know if Muslims were in the Americas three centuries before Christopher Columbus, as President Prime Minister Recep Tayyip Erdoğan first claimed, and then vehemently defended, last week. They may well have been. After all, before falling behind, Islamic civilization was at least as advanced as Christian medieval Europe. Economist Angus Maddison […]

Iran Stiffens Resolve to Elude Sanctions in Face of Latest U.S. Penalties

By Andy Tully: Iran’s oil minister says recent U.S. penalties against several companies in Iran and elsewhere will only encourage Tehran to evade the sanctions regime imposed to hinder its nuclear energy program. “The sanctions are cruel and illegal, and we will keep fulfilling our duty with regards to circumventing the sanctions,” Bijan Zanganeh said […]

In Mozambique—and In Africa—Rising Requires Resilience

By Doris Ross: Three months ago African leaders and policymakers assembled in Mozambique under an “Africa Rising” banner to assess the continent’s strong economic performance. But while the outlook for the continent remains strong, individual countries have faced problems and the uncertain global outlook continues to pose risks. Against this backdrop, what are the policies that […]

Will the U.S. Oil Boom Make Energy Sanctions Easier?

Ask someone to identify a big geopolitical consequence of the ongoing U.S. oil production boom and odds are high that they’ll invoke Iran. (Every one of the links in that last sentence is an example.) Without surging U.S. oil production, they’ll argue, sanctions on Iranian oil exports would have led to a massive oil price spike. Here is a concrete case of the oil boom yielding greater U.S. freedom of action in […]

Big Oil Is Cashing In On Iraq Violence

By Nick Cunningham: The spike in instability in several oil producing regions around the world is threatening to knock some production offline, but it is also boosting profits for drillers operating in trouble-free zones. Oil prices have hit their highest levels in almost 9 months as places like Iraq, Syria, Ukraine and Libya continue to experience violence and […]

The ISIS Caliphate: How Much Will it Cost the U.S., China and the Rest of the World?

In just a few weeks, Iraq has moved closer to a triangular disintegration. At the same time, the jihadists have advanced dramatically. Adverse scenarios cast a dark shadow over energy prices and growth prospects worldwide. In late March, the IMF mission met Iraq’s government leaders, central bankers, oil chiefs and senior executives. “Iraq maintained macroeconomic […]

Iraq, Oil Markets and the U.S. Economy

The group is calling itself the Islamic State of Iraq and al Sham, translated as the Islamic State of Iraq and Greater Syria, or ISIS. And so it may come to be. From Friday’s Wall Street Journal: A militant Islamist group that has carved out control of a swath of Syria has moved into Iraq, conquering cities […]

Baghdad’s Hold on Kurdistan Slips Further as Oil Exports Begin

By Nick Cunningham: In what could prove to be an historic turning point for Iraq, the government of Kurdistan – the semi-autonomous region in the country’s north – has delivered its first shipment of oil to the international market, in defiance of the central government in Baghdad. The move could mark the beginning of greater geopolitical and […]

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