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In May 2023, Iraq announced the Development Road, $17 billion, 1,200-kilometer rail line and roadway from a new port at Al Faw in southern Iraq to Türkiye, linking Asia and Europe. The Road is more than an upgrade to Iraq’s old infrastructure and aims to leverage Iraq’s location as a future trade corridor to solve several complex problems: unemployment, corruption, outdated infrastructure, and over-reliance on hydrocarbons at a time of declining demand for oil. The project is supported by Türkiye, and Qatar and the United…
The world is re-embracing nuclear energy after decades of decline, driven by technological advances and the need to keep pace with growing energy demand fueled by the tech sector without compromising climate goals. The world is now on track to produce more nuclear energy than ever before in 2025, and the International Energy Agency (IEA) predicts an all-out nuclear renaissance. But will the future of nuclear power be dominated by emerging technologies like modular reactors, new mega-projects like Plant Vogtle, or the revitalization of old and decommissioned…
Latin America has long been a dominant force in the global energy market, built on vast oil and gas reserves. While the world increasingly eyes renewable sources of energy for the future, hydrocarbons remain the bedrock of economic stability for the region. As energy demand evolves, national oil companies (NOCs) must not forsake oil, but rather ensure its competitiveness while prudently exploring emerging energy markets. The challenge is not whether hydrocarbons have a future, but how regional NOCs can harness their expertise to safeguard Latin…
My view has long been that if the world economy does not have enough energy resources, it will have to contract. The situation is analogous to a baker without enough ingredients to bake the size cake he wants to make, or a chemist not being able to set up a full-scale model of a reaction. Perhaps, if a plan is made to make a smaller, differently arranged economy, it could still work. The types of energy with inadequate supplies are both oil (particularly diesel and jet fuel) and coal. Diesel and jet fuel are especially used in long-distance…
European leaders jumped to renew a push for an end to Russia's invasion of Ukraine after US President Donald Trump said President Volodymyr Zelenskyy wrote a letter stating he's ready for talks with Moscow while also offering to sign a deal on Ukraine's mineral resources "at any time." After a week of tumult that culminated with the United States announcing a suspension of military aid to Ukraine after a heated exchange between the two leaders, Trump told a joint session of Congress on March 4 that Zelenskyy sent him a letter expressing a willingness…
