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February 22, 2016

  

Monday, February 22, 2016

Fueling our Future: The Plight of the Petrostate
6:30 PM - 7:45 PM

Downtown

Fueling our Future: The Geopolitics and Economics of Energy in the 21st Century

With seven billion people in the world (nine billion projected by 2050), many of whom live in rapidly developing countries, the need for modern technologies with their attendant energy demands is increasing at an exponential rate. Will it be possible to provide sufficient energy for this generation and the next? How will the energy race change global economies and politics? Join CGA clinical associate professor and academic chair Carolyn Kissane with experts in the field to discuss the changing landscape of global energy: its potential, challenges, and impact on how we live today.


The Plight of the Petrostate: Financial Fallout and its Implications


The price of oil is down 70% from its 2014 high, and analysts expect the price to fall into the $20 range - the lowest price in over a decade.  This drop has been especially damaging to petrostates that depend on oil revenues.  The economic crisis in Venezuela has seen grocery shelves empty and black market trade become a daily necessity. In Brazil, scandals in the state-controlled oil industry have driven the country into recession and threatened its status as an emerging power. Nigeria was Africa's strongest growing economy just two years ago, and today it struggles to fight off a severe economic crisis due to the loss of oil revenues.  Libya is considered the first failed petrostate.  What does the future hold for petrostates in a period of a low and declining oil price? Join CGA for a discussion of the petrostates facing political, economic, and social crises - and how these affect today's global oil markets.  



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