31. The Bush Administration and OPEC: The National Energy Policy Revisited
- Author:
- Simon Henderson
- Publication Date:
- 03-2002
- Content Type:
- Policy Brief
- Institution:
- The Washington Institute for Near East Policy
- Abstract:
- Tomorrow's conference of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna comes at a time when higher oil prices have been reflected in increased gasoline prices over the last two months. Indeed, further price hikes are possible, particularly as talk of war with Iraq has strengthened the futures market in recent days. Presently, the cartel influences rather than controls the world price of oil and, unlike in 1973, sees its role as maintaining supply. Last May, in the National Energy Review (NER), the Bush administration appeared unwilling to criticize the production policies of OPEC, which is dominated by Middle Eastern states. How has this view been affected by the events of September 11? Furthermore, how might OPEC respond as the Bush administration pursues the war on terrorism and confronts the "axis of evil," which includes two OPEC members — Iran and Iraq?
- Topic:
- Security and Religion
- Political Geography:
- Iraq, Middle East, and Arabia