- 09 Apr 2012
THE GEOPOLITICS OF OIL AND THE LOOMING CRISIS
Closing the straits of Hormuz, releasing American Strategic oil reserves and the barrel breaking the psychological barrier of 100 dollars are familiar phrases that resonate across various media. The extent of tensions in geostrategic areas, US monetary policy providing ample liquidity and speculation contribute more to significant oil price variations than alleged supply constraints. The negative impact of higher oil prices on a fragile recovery of the global economy is enormous. Why are the flames of war being fanned when these tensions damage an already precarious global economy?
MEI will hold a panel to discuss these topical, yet paradoxical issues. The panel will address the recent developments in the oil market. It will explore the nature of the struggle for oil, which is no ordinary struggle. Apparently, the degree of control in the oil market translates into some degree of enhanced power in all other markets. This power exercise constitutes the cornerstone of the commodity‐money based global monetary system. The panel will debate these concerns with the aim of providing a better understanding of the relationship of oil to development.
About the Speakers
Mr. Pepe Escobar, born in Brazil, is the roving correspondent for Asia Times and analyst for The Real News. Since the mid‐1980s he has lived and worked as a foreign correspondent in London, Paris, Milan, Los Angeles and Singapore, and Bangkok. Since 9/11 he has extensively covered Pakistan, Afghanistan, Central Asia, China, Iran, Iraq and the wider Middle East. He is the author of Globalistan: How the Globalized World is Dissolving into Liquid War (Nimble Books, 2007); Red Zone Blues: a Snapshot of Baghdad during the Surge (Nimble Books, 2007); and Obama does Globalistan (Nimble Books, 2009). He was contributing editor to The Empire and the Crescent (Amal Books, Bristol); Tutto in Vendita (Nuovi Mondi Media, Italy); and Shia Power: Next Target Iran? (Vallentine Mitchell, London) and is associated with the Paris‐based European Academy of Geopolitics. When not on the road, he lives between Sao Paulo, Paris and Bangkok.
Dr Ali Kadri was visiting fellow at the Department of International Development, London School of Economics and Political Science (LSE) and head of the Economic Analysis Section at the United Nations regional office for Western Asia. Dr. Kadri is presently in the process of conducting research on the political economy of development in the Arab World. During his work at the United Nations, he was the lead author of the UN flagship publication dealing with the economic and social conditions of Arab Western Asia. Dr. Kadri has published on issues of the labour process in the Arab world. His forthcoming work, entitled ‘Arab development denied,’ looks into the formidable obstacles facing development in the Arab world.
Ms. Vandana Hari is the Asia Editorial Director of Platts, based in Singapore. She supervises Platt’s news and price assessment teams covering the regional oil and gas, petrochemicals, and metals markets.
Event Details
Tower Block, Level 2 Bukit Timah Campus National University of Singapore 469A Bukit Timah Road Singapore 259770
