Energy

In November, 2015, a crisis had erupted between Russia and Turkey after NATO-member Turkey shot down a Russian fighter jet over the Syrian–Turkish border after it had ostensibly crossed into Turkish airspace (Financial Times, 2015). Although the sides managed to avoid further escalation of tensions, relations consequently suffered a major breakdown. Immediately after the Russian-Turkish fallout, many commentators were quick to argue that the Turkish stream pipeline was shelved for the foreseeable future (BBC News, 2015; Johnson, 2015). That seemed logical and in line with the theory, almost de rigueur, that equates authoritarianism at home and an adversarial foreign policy.

President Donald Trump's decision to remove the U.S. from the Paris climate agreementis yet another manifestation -- alongside the budget submitted to Congress and the president's speech at NATO headquarters in Brussels -- of how he continues to see U.S. interests as narrowly economic, and U.S. influence as exerted solely through hard power.

Fears that events in Iraq will send global oil prices soaring have abated. Yet, the crisis has potentially huge implications for oil. Under any conceivable outcome to the current situation, oil production from Iraq will fail to meet recent expectations. The reason for this dire prognosis is that politics – not security or logistics – will be the biggest determinant of Iraq’s oil trajectory in the years ahead.

This is the first handbook to provide a global policy perspective on energy, bringing together a diverse range of international energy issues in one volume.