Energy

Oil markets have so far reacted to President Donald Trump’s decision to withdraw from the 2015 Iran nuclear deal without either enthusiasm or panic — without even much apparent interest. There are many good reasons for this, but also many reasons to think oil markets’ complacency could change. Fortunately, the Obama-era sanctions that Trump has moved to reimpose have some lesser-known safety valves should oil markets later overheat as a result of the Iran decision.

While the Netanyahus drink champagne and Trump tweets, the Russians changed the Mideast’s nuclear calculus — and this time, Israel has no feasible military option. But can Jerusalem really depend on the White House to avert a nuclear arms race?

The historical record does not support the idea that nuclear energy programs increase the odds of proliferation.

Contrary to conventional wisdom, states with nuclear energy programs are not more likely than those without them to seek or acquire nuclear weapons.

Nuclear power in the Middle East has appeared poised for dramatic growth for more than a decade.  Iran’s nuclear power plant at Bushehr, the first of its kind in the Middle East, began producing electricity in 2011. Tehran has plans or proposals for additional 11 reactors, according to the World Nuclear Association. Saudi Arabia has announced plans to build 16 nuclear power reactors by 2040. The UAE has four nuclear power reactors under construction, the first of which is expected to come online later this year.  Egypt, Turkey, and Jordan, are each pursuing the development nuclear energy at their own pace.  The appearance of activity is impressive.