Energy

Last week, U.S. Sen. Joe Manchin seemingly dashed Democrats’ hopes for congressional action to slow climate change. Sen. Bernie Sanders accused Manchin of “sabotag[ing] the president’s agenda”; Rep. John Yarmuth, when asked about the consequences of Congress not acting on climate change, said, “We’re all going to die”; and climate activists, as well as some Democrats in Congress, wondered if Manchin should be removed as chair of the Senate Energy and Natural Resources Committee.

For many, integrating “decarbonization” into public policy, corporate and financial strategies has become a requirement, not an option — yet, what happens when the critical link between climate stability and decarbonization breaks?

Russia’s invasion of Ukraine has amplified the importance of national-security considerations in western countries’ energy policies. At the same time, governments must continue to focus on reducing environmental damage – in particular, on cutting greenhouse-gas emissions. Both goals, geopolitical and environmental, are urgent and should be evaluated together.

Once again, new economic readings from the World Bank's International Comparison Program have fed into the long-going debate over whether China is surpassing the United States as an economic and financial power. And once again, the answer to that question is a qualified "no."

Today’s economic crisis leaves us with an unsettling and perplexing regret. Why weren’t financial portfolios already adjusted for risks that stem from health events such as pandemics? After all, financial portfolios are adjusted for liquidity risks, market risks, credit risks, and even operational and political risks.

As part of the Project on Europe and the Transatlantic Relationship’s (PETR) event series, Nicholas Burns, Roy and Barbara Goodman Family Professor of the Practice of Diplomacy and International Relations, moderated a conversation on the crisis in the transatlantic relationship with Ambassador Victoria Nuland, Senior Fellow on the Future of Diplomacy Project and former U.S. Assistant Secretary of State for European and Eurasian Affairs, and Ambassador Philippe Etienne, Ambassador of France to the United States and diplomatic adviser to the President of the French Republic. 

Former U.S. Secretary of State Rex Tillerson offered his take on global leaders and hotspots, from Iran and Saudi Arabia to North Korea and Syria. He was joined by Professor Nicholas Burns, Professor James Sebenius and Professor Robert Mnookin.

For the Islamic Republic, resistance to Washington has become a cultural norm, and it considers independence (esteghlal) as the main achievement of the 1979 revolution.  According to Secretary of State Mike Pompeo, Iran would have to meet 12 conditions before the United States will renegotiate the nuclear deal and consider removing its sanctions. These conditions, which are nothing short of surrender on Iran’s part, are either set to force Iran out of the nuclear deal and therefore trigger the return of UN sanctions, or they are a thinly veiled call for regime change.

Unlike the socialist revolutions of the last century, the Islamic Revolution of Iran did not identify itself with the working class or the peasantry, and did not bring a well-defined economic strategy to reorganize the economy. Apart from eliminating the interest rate from the banking system, which was achieved in name only, the revolution put forward few specific economic policies that could be called an Islamic economic development strategy. To be sure, its populist and pro-poor rhetoric was quite distinct from the Pahlavi regime it replaced, but its actual policies could be found in the toolboxes of most developing countries and international organizations.