Environment and Natural Resources

The dramatic fall of oil prices is set to jeopardize both the U.S. ambition to become a big gas exporter by the end of this decade and the long-awaited development of a global gas market.

China’s energy needs have been a major factor shaping the global energy landscape in the 21st century. A significant contributor to rising global energy consumption and increasing prices over the last decade, the country is being actively courted by the world’s largest oil and gas exporters as a pivotal growth market for the future. As part of this, policymakers and industry leaders have been closely monitoring the potential for growing strategic and energy ties between China and its producer neighbor, Russia.

In 2012, when many energy experts argued that oil production had peaked, Leonardo Maugeri published “Oil: The Next Revolution,” which forecast a glut of oil and collapsing prices in the next several years. His prediction proved prescient. Now, as analysts look past today’s oil-market drama to a near future of robust liquefied natural gas exports, Maugeri is again challenging conventional wisdom. The long-hoped-for and hyped-up gas market, he concludes, will disappoint.

“Falling Short: A Reality Check for Global LNG Exports” details the new findings by Maugeri, a former oil industry executive who is now an associate with the Geopolitics of Energy project at Harvard Kennedy School’s Belfer Center for Science and International Affairs.

The International Center for Climate Governance (ICCG) has named Harvard Kennedy School's Belfer Center for Science and International Affairs winner of the 2012 ICCG Climate Think Tank Ranking in the Global category. The Belfer Center was cited as the most influential institution outside of Europe “working in the field of climate change economics and policy.” The European winner is the Basque Center for Climate Change (BC3) in Spain. See full report here.

Expanding estimates of North America’s supply of accessible shale gas, and more recently, shale oil, have been trumpeted in many circles as the most significant energy resource development since the oil boom in Texas in the late 1920s. How large are these resources? What challenges will need to be overcome if their potential is to be realized? How will they impact U.S. energy policy?

To address these questions, the Belfer Center for Science and International Affairs and two of its programs ― the Environment and Natural Resources Program and the Geopolitics of Energy Project ― convened a group of experts from business, government, and academia on May 1, 2012, in Cambridge, Massachusetts. The following report summarizes the major issues discussed at this workshop. Since the discussions were off-the-record, no comments are attributed to any individual. Rather, this report attempts to summarize the arguments on all sides of the issues.

The Summer 2011 issue of the Belfer Center newsletter features analysis and advice by Belfer Center scholars regarding the historic upheavals in the Middle East and the disastrous consequences of the earthquake and tsunami in Japan. The Center’s new Geopolitics of Energy project is also highlighted, along with efforts by the Project on Managing the Atom to strengthen nuclear export rules.