From a very naive economist: Is the spike in oil prices is (almost) largely due to (global) inflation stoked by American dollar printing? Limited role of uncertainty and the need for side arrangements (transaction costs) of the sort that countries got into with Iran?
Quite interesting essay. We see the Russian economy currently in a bit of trouble after selling discounted oil to the Chinese and maybe India. Their production also seems to be slowing so perhaps there are maintenance issues with their oilfield equipment caused by sanctions and skill losses. OTOH, the Arctic fields will require some new technology that requires some real skills to develop.
I do hope to see an article related to the dollar-oil (energy) relationship. Does seem national power and influence relates to energy capability along with the intellectual property to exploit it.
From a very naive economist: Is the spike in oil prices is (almost) largely due to (global) inflation stoked by American dollar printing? Limited role of uncertainty and the need for side arrangements (transaction costs) of the sort that countries got into with Iran?
Quite interesting essay. We see the Russian economy currently in a bit of trouble after selling discounted oil to the Chinese and maybe India. Their production also seems to be slowing so perhaps there are maintenance issues with their oilfield equipment caused by sanctions and skill losses. OTOH, the Arctic fields will require some new technology that requires some real skills to develop.
I do hope to see an article related to the dollar-oil (energy) relationship. Does seem national power and influence relates to energy capability along with the intellectual property to exploit it.
BTW, this article in not in your archives. Matter?