Below, please find the latest articles to have appeared in print and electronic media about CSIS and its experts. For your reference, there is also a link to archived media coverage of CSIS.
Sarah Ladislaw, a fellow with the CSIS Energy and National Security Program, was quoted by the Wall Street Journal, "Global Warming as a Security Threat."
Do something to lower gas prices, and you might exacerbate warming and, potentially, terrorism. Assist in the fight against global warming and risk economic hardship. "It does trade off," said Sarah Ladislaw, a fellow in the energy and national security program at the Center for Strategic and International Studies. "The real question out there is: How well are people going to deal with the trade-offs?" The convergence of the increasing cost of fuel, global food shortages, global warming, and national security threats show how interconnected these transnational issues are, and policy makers need to be mindful of that, she said. Read more
June 25
A CSIS Energy and National Security Event, "International Energy Outlook, 2008," was quoted by the Associated Press, "Report Sees Big Jump in Energy, Fossil Fuel Use."
WASHINGTON (AP) — Despite persistently high oil prices, global energy demand will grow by 50 percent over the next two decades with continued heavy reliance on environmentally troublesome fossil fuels, especially coal and oil, the government predicted Wednesday.Despite coal burning's significant impact on climate change "it's the fuel of choice for electricity production in the emerging economies, especially China," Caruso said at a meeting held by the Center for Strategic and International Studies.Read more
June 25
A CSIS Energy and National Security Event, "International Energy Outlook, 2008," was quoted by Reuters, "More Offshore Drilling Does Little at Pump -- EIA."
WASHINGTON, June 25 (Reuters) - Allowing oil drilling in U.S. offshore waters that are now closed to energy exploration would do little to lower gasoline prices paid by consumers, the government's top energy forecaster said on Wednesday."It would be a relatively small effect, because it would take such a long time to bring those supplies on," Caruso said during a briefing at the Center for Strategic and International Studies on the EIA's new long-term international energy forecast. "It doesn't affect prices that much." Read more
June 25
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Dow Jones, "U.S. Oil Revenue Oversight Bill May Restrict Resource Access."
WASHINGTON -(Dow Jones)- The House Financial Services Committee Thursday will consider legislation to increase revenue transparency in the petroleum and mining industries. But as Congress scrambles to find ways to cut record fuel prices, oil companies warn it may be sending a bullish signal to the energy futures market by further restricting access to the world's dwindling petroleum resources. Frank Verrastro, director and senior fellow at the Center for Strategic and International Studies' Energy Program, said companies could be penalized in two ways: restricted access on future bid rounds or disclosure being deemed as violating existing contract agreements. "Oil firms are always subject to the sovereign when it comes to resource allocation, and that's what the big concern is," Verrastro said. Read more
Robert Ebel, a senior adviser with the CSIS Energy and National Security Program, was quoted by the Wall Street Journal, "Senator's Broad Range of Energy Policies Defies Categories."
In environmentally conscious Portland, Ore., he praised wind power. In Texas oil country he supported more drilling. In rural Missouri he urged more nuclear power. In California he praised fuel-efficiency standards. "It's all over the map," said Bob Ebel, a senior adviser and energy expert at the Center for Strategic and International Studies. "I'm just sort of scratching my head." In general, the Republican presidential candidate has been reluctant to support mandates, tax credits and subsidies aimed at boosting alternative fuels, saying that government interference distorts the market. Read more
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Los Angeles Times, "Oil Crisis Fuels Blame Game."
WASHINGTON -- Runaway oil prices have set off a furious new blame game in which political leaders and key economic players are scrambling to deflect responsibility for the deepening crisis."Everybody's got their preferred culprits," said Frank A. Verrastro, a longtime U.S. energy official who is now director of the energy program at the Center for Strategic and International Studies in Washington. "Nobody wants to look in the mirror."Read more
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Associated Press, "Oil Industry Giants To Discuss Lowering Prices."
RIYADH, Saudi Arabia (AP) — Oil-industry heavy hitters likely won't agree on any solid action to lower oil prices in the short term during a special weekend meeting convened by this production giant.When so many countries have been invited to such a gathering and nothing comes out of it, "you don't change the philosophy of the market," said Frank Verrastro, director of the energy and national security program at the Washington-based Center for Strategic and International Studies. "I'm afraid that they may agree on the various factors but I don't know that they have a remedy is I guess the concern," he said.Read more
June 18
Robert Ebel, a senior adviser with the CSIS Energy and National Security Program, was quoted by the Associated Press, "Analysis: Big Talk, Little Action on Gas Prices."
WASHINGTON (AP) -- The nation's anger over $4 gasoline is producing a lot of energy-related theatrics at the White House and in Congress. Republicans are demanding new drilling off the nation's beaches. Democrats want to tax away oil companies' profits.Opening more offshore waters to oil development ''would be of little or no help at all in the short term,'' says Robert Ebel, an energy expert at the Center for Strategic and International Studies. ''In the long run it would depend on how much you find offshore.''Read more
June 11
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the San Francisco Chronicle, "While Congress Argues, Gas Costs Keep Climbing."
With gas prices soaring to a nationwide record of $4 a gallon, Americans might assume that Congress would move swiftly to address an issue that's hitting consumers' wallets and threatening the U.S. economy. But both parties, caught up in election-year politics, seem more intent on blaming each other for the price spike. "Oil is an internationally traded commodity, so absent price controls - which we tried in the 1970s and they didn't really work - there is not a lot Congress can do in terms of price relief," said Frank Verrastro, director of the energy and national security program at the Center for Strategic and International Studies. Read the article
June 10
Robert Ebel, a senior adviser with the CSIS Energy and National Security Program, appeared on Marketplace Radio, "Senate Works on Lowering Oil Prices."
Sam Eaton: It's not just drivers who feel the pinch when gas hits a $4 a gallon. Politicians have to explain what they're doing to ease prices at the pump. Today, Senate Democrats are trying to do just. Their bill would tax oil companies and grant federal authority to sue OPEC nations in U.S. courts. But not everyone's buying it.Robert Ebel: A lot of this stuff is just PR, you know, it's not gonna happen.Robert Ebel is with the Center for Strategic and International Studies. He says there's little chance in an election year of passing any meaningful energy policy. He says that makes this week's proceedings more about political gamesmanship than problem solving.Robert Ebel: You can point your finger in all directions, and probably find some reason to explain why the price of a barrel of oil went up as much in one day as what a barrel of oil sold for 10 years ago.Ebel says one thing is certain to come out of the debates: Democrats and Republicans will blame each other as both parties carve out energy platforms for the fall election.Read more
June 9
CSIS Experts Reginald Dale, David Pumphrey and Simon Serfaty, were quoted by the Washington Times, "Obama Presidency Could Dismay Anti-Bush Europe."
To many in Europe, President Bush is still a pariah, and Barack Obama is a phenom. "Once President Bush is out of the White House, there will be huge expectations in Europe that a new, rosy dawn of peace and love is appearing over the Atlantic," said Reginald Dale, a Europe scholar at the Center for Strategic and International Studies. David Pumphrey, a former senior official at the Department of Energy in the Bush administration, said that Europe sees an "opportunity to engage successfully" on climate change under the next administration. "His willingness to go to Paris, London, Berlin and Rome during the same trip shows how far we have come over the past few years in terms of the trans-Atlantic partnership," said Simon Serfaty, a global security specialist at CSIS. Read more
May 29
Robert Ebel, a senior adivser with the CSIS Energy and National Security Program, was quoted by the Globe and Mail, "A New Kind of 'Energy Crisis.'"
There was barely a whimper when the price of oil raced passed key milestones this decade – $50 (U.S.) a barrel, $80, even $100. [. . .]“It's basically a price problem,” said Mr. Ebel, a senior adviser at the Washington-based Center for Strategic and International Studies. “It's beginning to hurt. You see it at the grocery store. You see at the gas station. It's having an effect on every segment of the economy. It's something people are going to have to adapt to.” Read More
May 29
Robert Einhorn, a CSIS senior adviser, was quoted by Reuters, "Missile-Related Shipment to Syria Stopped, U.S. Says."
Four countries last year prevented Syria from receiving equipment that could be used to test ballistic missile components, a senior U.S. official said on Wednesday.Robert Einhorn, a former assistant secretary of state for nonproliferation who is now at the Center for Strategic and International Studies think tank, praised PSI but stressed that countries had made such efforts for years.Read More
May 27
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the San Francisco Chronicle, "Supply-Demand Imbalance Boosts Oil Prices."
Even as the cost of crude oil has soared in recent years, the amount pumped from the ground hasn't. Worldwide oil production has barely budged, despite record prices. Since the start of 2004, oil's price has gone from $33 per barrel to $132. Production, meanwhile, has risen just 1.8 percent, to 84.6 million barrels per day. [...] "We're projecting by the end of 2009 we may actually be in a surplus," said Frank Verrastro, director of the energy program at the Center for Strategic and International Studies.Read the article
May 21
David Pumphrey, deputy director of the CSIS Energy and National Security Program, was quoted by United Press International, "Venezuela Warns of Hyper-Inflation."
"Even $200 a barrel, while not impossible, would need some kind of major disruption in the market to reach that level," said David Pumphrey, senior energy fellow at the Center for Strategic and International Studies. Pumphrey did note that the U.S.-Venezuela oil relationship, though crucial to the long-term economic health of both nations, could be in jeopardy were Venezuela discovered to be directly involved in funding radical leftist rebel groups in neighboring Colombia, as has been asserted in recent months. Read more
Frank Verrastro, director of the CSIS Energy and National Security Program, and Jon Alterman, director of the CSIS Middle East Program, were quoted by the New York Times, "Saudis Rebuff Bush, Politely, on Pumping More Oil."
President Bush used a private visit to King Abdullah’s ranch here on Friday to make another appeal for an increase in oil production that might give American consumers some relief at the gasoline pump. The Saudis responded by announcing they had decided a week ago on a modest increase of 300,000 barrels a day. The White House said the increase would not be enough to lower gasoline prices, which are nearing $4 a gallon, and industry analysts called it mostly symbolic. [...]Mr. Hadley told reporters recently that “the Iraq war was a stress” on the relationship. Jon Alterman, a Mideast expert at the Center for Strategic and International Studies, said Saudi confidence in the United States has been “extremely shaken,” over the war as well as what Saudis perceive as Mr. Bush’s lackluster effort on behalf of the rights of Palestinians. [...]"This is a recognition that there is a confluence of interest here, both on the producer side and on the consumer side," said Frank A. Verrastro, director of the Energy and National Security Program at the Center for Strategic and International Studies in Washington. "The Saudis are concerned that these higher prices might be leading to some demand destruction." Read the article
May 17
Robert Ebel, a senior advisor with the CSIS Energy and National Security Program, was quoted by the Associated Press, "Analysts: Saudis Protect Own Interests in Oil Production."
When President Bush, once a Texas oilman, asked Saudi Arabia to pump more crude, he may have forgotten that the Saudis have a long memory. And that made it a good bet his mission this past week would produce a dry hole. In the 1990s the OPEC cartel was eager to pump more oil in a grab for cash as prices _ like today _ were going up, passing what then was viewed as a healthy sum in the $20-plus range. But then the Asia economic crisis struck and oil prices plummeted to below $10 a barrel. Saudi Arabia and other producers got burned. "They remember that and they're not going to have that happen again," says Robert Ebel, an international energy expert at the Center for Strategic and International Studies. "They understand the market just as well as we do."Read the article
May 17
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Financial Times, "Saudi Boost to Output Deepens OPEC Division."
Saudi Arabia's decision to increase its oil production after intense US pressure threatens to deepen the rift that has emerged inside Opec between the moderate Arab Gulf countries and hawkish Iran and Venezuela. Analysts said the move was linked to George W. Bush's personal plea for more oil - the second this year - and threats from leading US senators that they would try to stop a $1.4bn arms sale to Saudi Arabia. [...]Frank Verrastro, an energy expert at the Center for Strategic and International Studies in Washington, said it looked as if Washington and Riyadh were trying to avoid the appearance that King Abdullah had been bullied into a rise by the US.Read the article
May 17
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by McClatchy Newspapers, "Bush Seeking Saudi's Help on Oil Prices."
In April 1986, Vice President George H.W. Bush traveled to Saudi Arabia with a stern warning. Record low oil prices of $10 a barrel threatened the U.S. oil industry and U.S. national security. If prices don't rise, he warned, perhaps a U.S. tariff on imported oil would do the job. More than 22 years later, his son George W. Bush is on a similar mission, but with the opposite goal in mind. President Bush meets today with Saudi King Abdullah and will lobby for help in bringing down world oil prices, which have raced past $125 a barrel. [...] "They've not only invested tens of millions of dollars to increase production capacity. They've increased their actual production from 8.5 million barrels per day (mbpd) to 9.2 mbpd," said Frank Verrastro, director of the energy and national-security program at the Center for Strategic and International Studies, a center-right think tank.Read the article
May 16
Robert Ebel, a senior adviser with the CSIS Energy and National Security Program, was quoted by the USA Today, "Pressure Builds Over Bush-Saudi Oil Talks."
President Bush arrived in Saudi Arabia today to meet with the leader of the world's leading oil-producing nation amid growing pressure to do something about rising fuel prices at home. If precedent is any indication, however, Bush is unlikely to get much sympathy from King Abdullah, the Saudi monarch. He asked Abdullah in January to increase production and was rebuffed. "I hope that President Bush goes in with low expectations," says Robert Ebel, an energy analyst at the Center for Strategic and International Studies. "He's going to be disappointed if he doesn't."Read the article
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Reuters, "Bush Gets Oil but No Credit for Jawboning Saudis."
WASHINGTON (Reuters) - President George W. Bush walked away from a meeting with Saudi King Abdullah on Friday with a prize he has been seeking for months: a commitment from the world's big oil exporter to boost output.The move, announced by Saudi Oil Minister Ali al-Naimi after Bush met with Abdullah in Riyadh, was "a bit of capitulation for the Saudis," said Frank Verrastro, an energy expert at the Center for Strategic and International Studies. However, Verrastro agreed that the move was meant to safeguard global economies and prevent a downturn in petroleum demand, not to placate the world's largest energy user. Read more
Frank Verrastro, director of the CSIS Energy and National Security Program, appeared on CNN's The Situation Room, "Skyrocketing Gas Prices."
[...]Meanwhile, on Capitol Hill today, a direct challenge to President Bush, driven by concerns about gas prices. Senators voted overwhelmingly to temporarily stop the shipment of thousands of barrels of oil a day to the government's emergency reserve. [...]FRANK VERRASTRO, ENERGY AND NATIONAL SECURITY EXPERT: By adding back between 70,000 and 100,000 barrels a day, you ought to get some relief in the short term. Read the Transcript
May 12
Robert Ebel, a senior adviser with the CSIS Energy and National Security Program, was quoted by the Associated Press, "Congress Divided on Energy Plan."
As millions of people approach the summer vacation season under the threat of $4-per-gallon gasoline, Congress is scrambling to respond. But don't wait for anything that will drive down prices at the pump. A Senate vote on a GOP plan is scheduled for Tuesday, and Senate Majority Leader Harry Reid has promised to bring up a Democratic package before the Memorial Day congressional recess. Except for halting the flow of oil into the government's Strategic Petroleum Reserve, neither plan is likely to go very far. Both will be challenged by filibusters by opponents, meaning they would require 60 votes to advance. FACT: While politically popular, such a measure would probably not change OPEC production decisions and could provoke retaliation. Similar proposals have been debated in Congress since 2005. "It's a catchy phrase, but it doesn't have any substance," says energy consultant Robert Ebel of the Center for Strategic and International Studies. Read the article
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Reuters, "Senate Democrats Unveil New Energy Tax Plan."
Democrats in the Senate on Wednesday unveiled a new energy package that would revoke $17 billion in tax breaks extended to big oil companies like Exxon Mobil Corp and slap a 25 percent windfall profits tax on firms that don't invest in new energy sources. The day that U.S. oil prices hit an all-time peak of $123.93 a barrel, Democrats moved to act on soaring gasoline pump prices, which are a growing political liability in the November presidential election. "It's placate and pander and point the finger - that's where the politics are going right now," said Frank Verrastro, an energy expert at the Center for Strategic and International Studies. "Somebody has got to tighten their belt." Read the article
May 2
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Wall Street Journal, "Exxon's $10.89 Billion Net Disappoints Investors, Fuels Gathering Political Storm."
Exxon Mobil Corp.'s $10.89 billion first-quarter profit report Thursday ranks as one of the biggest hauls in U.S. corporate history. But the results disappointed Wall Street and added to concerns about the future of the industry. Exxon, the world's biggest non-government controlled oil company by market capitalization, notched a 17.3% increase in profit over the year-earlier period largely from the surge in oil prices, which set new records earlier this year. Yet the earnings discouraged investors, who at one point sent Exxon shares down as much as 5.1% in intraday composite trading on the New York Stock Exchange, the stock's ...Read the article
May 2
David Pumphrey, deputy director of the CSIS Energy and National Security Program, was quoted by the Christian Science Monitor, "What Has Driven Up Oil Prices."
The recipe for record US gasoline prices goes like this: Take a tight oil supply and growing world demand. Add a falling dollar and lots of investment money flowing into oil and other commodities. Finish with market turbulence caused by the annual switch from winter to summer gasoline blends. The result: an average US retail price for regular of more than $3.60 a gallon. [...] "Since 2000, we have hit a more mature period in terms of supply. At the same time, we've had the demand shock come into play," says David Pumphrey, deputy director of the energy and national security program at the Center for Strategic and International Studies. Read the article
May 1
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Associated Press, "Proposals to Slash Gas Prices Abound in White House Race."
Get rid of the federal gas tax — at least for the summer. Tax Big Oil to help the rest of us out. Get drilling in that Alaska refuge. Soaring gasoline prices are suddenly the nation's No. 1 crisis, and all the presidential candidates are offering cures. Never mind that economists and energy experts see little value in such measures, at least in the short run. Or that even some top congressional leaders are raising eyebrows. It's election season, and presidential contenders and other politicians are jumping on the bandwagon. "I think we are in a political crazy time. Some of this stuff being proposed borders on the irresponsible," said Frank Verrastro, director of the energy and national security program at the Center for Strategic and International Studies. In particular, said Verrastro, the talk of suspending the federal 18.4-cents per gallon federal tax on gasoline and 24.4-cents per gallon tax on diesel fuel during the summer driving season "is just absurd. Economics 101 will tell you if you cut the price, you increase demand. That means you tighten the market. Then the price goes back up. It goes to oil companies." Read the article
April 24
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Reuters, "U.S. Arms Sales to OPEC at Risk over Oil -- Senators."
Democrats in the U.S. Senate stepped up their attacks on OPEC oil producers on Thursday, threatening to block billions of dollars in arms sales to suppliers such as Saudi Arabia if they fail to take action to tame record oil prices. Tying oil prices to arms sales could motivate Middle East producers to seek cozier arms-for-oil agreements with countries such as Russia and China, said Frank Verrastro, an energy expert at the Center for Strategic and International Studies. Read More
April 16
Robert Ebel, a senior adviser with the CSIS Energy and National Security Program, was quoted by the Juneau Empire, "Energy Expert to Speak on National Policy."
The Juneau World Affairs Council will host a presentation, "What U.S. Energy Policy Should Be," by Robert Ebel, head of the Energy and National Security Project at the Center for Strategic and International Studies in Washington, D.C., at 5:30 p.m. today at the Juneau Arts & Culture Center. "I've been asked to talk about what makes for a good energy policy for the U.S.," Ebel said. Ebel, who has been with CSIS for 15 years, has held leadership positions in the CIA, Interior and Energy departments, as well as directed ENSERCH Corp. and the Washington Export Council. According to the Juneau World Affairs Council, Ebel is an expert on energy and energy policy and can speak on the world oil supplies, oil prices, OPEC, energy security, imports, renewable energy and world energy supplies. Read more
April 11
David Pumphrey, deputy director of the CSIS Energy and National Security Program, appeared on CNN’s Situation Room, "Pain-at-the-Pump Politics."
WOLF BLITZER, CNN ANCHOR: And to our viewers, you're in THE SITUATION ROOM. Happening now, John McCain siding with the Democrats against President Bush. He wants to ease your pain at the pump by limiting the amount of oil in the nation's emergency reserve. But those 700 million barrels may represent just a drop in the bucket. [...] DAVID PUMPHREY, CENTER FOR STRATEGIC & INTERNATIONAL STUDIES: The amount of oil in terms of the total oil market is quite small. But in a very tight market, each additional barrel begins to matter even more.Read the transcript
April 2
A CSIS Energy and National Security Program event with Royal Dutch Shell CEO Jeroen van der Veer was quoted by the Houston Chronicle, "Profits Realistic, Oil Execs Insist."
WASHINGTON — Oil company executives expressed sympathy for consumers hurt by high energy costs Tuesday but defended their companies' record profits.Early Tuesday, at Washington's Center for Strategic and International Studies, Jeroen van der Veer, chief executive officer of Netherlands-based Royal Dutch Shell, warned against sinking too much cash on alternatives such as biofuels if they cannot be competitive in the marketplace. "There is no point to spend billions of dollars on a technology that is too expensive for consumers," van der Veer said.Read the article
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Associated Press, "Military Feels Fuel-Cost Gouge in Iraq."
Think you're being gouged by Big Oil? U.S. troops in Iraq are paying almost as much as Americans back home, despite burning fuel at staggering rates in a war to stabilize a country known for its oil reserves. [. . .] The Pentagon's demand for fuel in Iraq has had little if any effect on global oil prices. Frank Verrastro, director of the energy and national security program at the Center for Strategic and International Studies in Washington, said the military's use of 1.2 million barrels a month -- or roughly 40,000 barrels a day -- represents a small chunk of the 86 million barrels demanded each day on the global market. Read More
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Bloomberg, “Oil Executives Defend Against Higher Taxes at Hearing."
Executives from the world's top oil companies, in a congressional hearing today, told U.S. lawmakers that competition and high costs justify the industry's opposition to taxes increases. Representative Edward Markey, a Massachusetts Democrat, hauled in executives from the oil industry to testify on record profits and gasoline prices before his Select Committee on Energy Independence and Global Warming."I don't think it's a serious attempt to get to the issues,'' said Frank Verrastro, director of the energy and national security program at the Center for Strategic & International Studies."I think it's more" public relations.Read the article
March 25
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the San Fransisco Chronicle, “Chevron reportedly in talks to tap Iraq's oil."
Chevron Corp. and other international oil companies are negotiating with the Iraq Ministry of Oil to begin tapping into some of the country's largest oil fields, according to published reports. Specifically, the companies are negotiating for two-year contracts that would help Iraq boost production at existing oil fields. [...] "It was a way to get things going without calling it a production agreement," said Frank Verrastro, director of the energy program at the Center for Strategic and International Studies. "They've been sitting in abeyance for two years while oil prices have gone up. I think there's a growing realization (in the Iraqi government) that, had we done this sooner, we'd be a lot better off today." Read the article
March 18
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by United Press International, "Oil Prices Look Skyward."
With the plummeting dollar, geopolitical uncertainty and investor speculation all being blamed for soaring oil prices, it is unclear whether U.S. Vice President Dick Cheney's efforts to persuade Saudi Arabia to increase oil production will result in cheaper oil. Oil prices briefly touched a record $112 a barrel Monday before falling more than $4 on fears the troubles at Bear Stearns could spread to the rest of the market. On Tuesday, however, they rose again ahead of an expected cut in interest rates by the Federal Reserve, part of a move to shore up confidence in the economy, but one that will likely see the dollar fall to new lows against other currencies. Frank Verrastro, senior fellow and director of the Energy and National Security Program at the Center for Strategic & International Studies in Washington, criticized the White House position. "He (Bush) tried it last month," he said. "It's amazing the president keeps saying this."Read the article
March 14
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Bloomberg, "Fuel Conservation the Only Road for U.S. Drivers."
The U.S. government tried to tackle high gasoline prices in the 1970s with a raft of measures, but this time around Washington is not offering much to ease the pain at the pump, so it will be up to consumers to find relief by conserving fuel. While the public and many U.S. lawmakers are calling on the Bush administration to take action, the White House says there is nothing it can do to bring down skyrocketing fuel costs this spring and summer. "I don't foresee the reintroduction of price controls," said Frank Verrastro, energy expert at the Center for Strategic and International Studies think tank in Washington. "Clearly, there are no easy, near term fixes for higher gas prices."Read the article
March 13
Robert Ebel, a senior adviser with the CSIS Energy Program, was quoted by Reuters, "U.S. Economists See Long-Term Ills of Iraq War."
WASHINGTON, March 13 (Reuters) - What's over $100 billion a year in Iraq war costs to a $14 trillion U.S. economy? Not much now, but the tab is growing on a "buy-now-pay-later" plan that threatens long-term problems.Robert Ebel, a senior energy adviser at the Center for Strategic and International Studies, said Mideast political instability always factored into oil prices. But the huge increase over the past five years, he said, was not so much due to Iraq.Read the article
March 11
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Bloomberg, “Oil Raises to Record for Fifth Day in New York on Weak Dollar."
Crude oil rose to a record for a fifth day, climbing above $109 a barrel in New York, after the weak dollar prompted traders to invest in commodities. The euro rose to $1.5495 against the dollar, the highest since the single currency's introduction in 1999, after European Central Bank council member Axel Weber said he doesn't see any leeway to lower borrowing costs. The dollar rebounded from the day's low after the Federal Reserve said it will lend up to $200 billion of Treasury securities in exchange for debt. [...] "The decline of the dollar has a lot to do with the rise in prices," said Frank Verrastro, director of the Center for Strategic and International Studies energy program in Washington. "People are looking at the oil market as a safe place to park their money in this time of economic uncertainty. The end users of oil are not major participants in this market."Read the article
March 11
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Houston Chronicle, " 'It's Going to be a Tough Year' Analysts Predict"
Perhaps it's time to have that talk with the boss about telecommuting. Prices at the gas pump hit new heights Tuesday, with government forecasters warning they could top $4 a gallon in some markets this year. Consumers' other energy costs — electricity, natural gas and home heating oil — are likewise expected to reach or approach record levels in 2008, the U.S. Energy Information Administration reported Tuesday. "It's going to be a tough year," said Frank Verrastro, a former Pennzoil executive who now directs the energy program at Washington's Center for Strategic and International Studies. Read the article
March 4
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Reuters, "Bush Urges OPEC to Weigh Pain of High Oil Prices."
U.S. President George W. Bush warned on Tuesday it would be a "mistake" for OPEC ministers meeting in Vienna to ignore the pain record-high oil prices are inflicting on the United States, the world's top energy consumer. In some of his strongest language to date, Bush turned up the heat on the Organization of the Petroleum Exporting Countries, source of about a third of the globe's oil supply. [...] "They're definitely heating up the rhetoric and saying it's not their fault" that oil prices are so high, said Frank Verrastro, an energy expert at the Center for Strategic and International Studies. Read the article
February 26
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Reuters, "U.S. Gov’t has no Plans to Stop Adding Emergency Oil."
Despite record crude oil prices above $100 a barrel, the U.S. Energy Department told Congress on Tuesday it had no plans to stop adding about 70,000 barrels per day of oil to America's emergency oil stockpile.Katharine Fredriksen, who heads the department's Office of Policy and International Affairs, told the Senate Energy Committee that the Strategic Petroleum Reserve should reach a record 700.7 million barrels of oil by the end of March.[...] Frank Verrastro, energy expert with the Center for Strategic and International Studies in Washington, said the Bush administration's withdrawal of oil from a tight market encourages and emboldens traders and speculators to talk up oil prices without fear of reprisal. He said the administration's insistence on continuing to fill the SPR "severely undermined" U.S. appeals for OPEC to ramp up oil output.Read the article
February 19
Robert Ebel, a Senior Adviser with the CSIS Energy Program, was quoted by Bloomberg, "Oil Rises to $100 on OPEC Output Fears."
NEW YORK: Crude oil rose Tuesday to a record $100.10 a barrel in New York on speculation that OPEC would cut production when it meets next month."I doubt OPEC will be cutting production when they meet next month," said Robert Ebel, chairman of the energy program at the Center for Strategic and International Studies in Washington. "They are likely to sit where they are and see what happens. Demand always falls a bit in the second quarter, so there's no reason to increase production."Read the article
February 15
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by United Press International, "Does Storing Oil Raise Prices?"
As oil prices skyrocket, some policymakers want to halt efforts to increase the nation's emergency oil reserve, but the administration says energy security depends on the stockpile's size. The Department of Energy pulls approximately 70,000 barrels of oil off the market every day for the Strategic Petroleum Reserve, the world's largest oil stash, stored in massive underground salt caverns along the Gulf of Mexico's coastline. [...] "What volume of oil is in the reserve doesn't matter ... because you can't cover your full import rate," Verrastro told UPI, pointing to a greater need to increase the drawdown rate than to increase total volume. Read the article
February 14
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by United Press International, "Nigeria’s Resource Curse."
Nigerian Vice President Jonathan Goodluck shocked his colleagues and countrymen this week when he referred to his country's oil wealth as an economic curse to his country over the last 50 years. Speaking from the capital, Abuja, Goodluck told local media that the discovery of, and dependence on, oil in the volatile West African country has cause Nigeria's economy and development to remain stagnant over the last several decades. A culture of discontentment with the Nigerian government and the foreign oil companies doing business there pervades the delta, as the region's oil and gas wealth rarely trickles down to the region's inhabitants, said Frank Verrastro, senior fellow and director of the Center for Strategic & International Studies' Energy and National Security Program. "Delta residents see this wealth being exported and it infuriates them," Verrastro told United Press International.Read the article
February 7
Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by cfr.org, "Why the Iraqis Can Not Agree on an Oil Law."
Disagreements over oil and revenue sharing threaten to unravel hopes for a political breakthrough and national reconciliation in Iraq. A draft oil law has drawn criticisms from Iraq’s Sunnis, who prefer a stronger role for the central government, and from Kurds, who prefer a stronger role for the regional authorities. The majority Shiites have sought to mollify the Sunnis by keeping control of Iraq’s oil sector in Baghdad, not the provinces. The role of outside investors, as well as the classification of old versus new oil fields, also divides Iraqi politicians. Oil, of course, is the country’s most vital resource, accounting for 95 percent of government revenue. Yet output has fallen well short of Baghdad’s production targets, mostly due to corruption, poor security, and lack of investment. . . "Unless these annexes that describe the distribution of revenue and role of ministry of oil and INOC are resolved, the hydrocarbon law in and of itself will not change anything," says Frank Verrastro, director of the energy program at the Center for Strategic and International Studies. Read the Article
January 29
Keith Smith, a senior associate with the CSIS Europe Program, was quoted by Reuters, "EU Vows Tough Scrutiny of Baltic Gas Pipeline."
The European Commission vowed on Tuesday to study thoroughly whether a planned gas pipeline under the Baltic Sea meets strict environmental rules, responding to concerns of some countries in the region. The Nord Stream pipeline, due to link Russia and Germany and involving Gazprom, E.ON and BASF, has sparked protests in countries such as Poland, Lithuania and Estonia, which say it will damage the environment. "It is not out of line to believe that the goal of spending such a large sum may be designed to exercise political influence over its neighbours," said Keith Smith, senior associate at the Center for Strategic and International Studies think-tank. Russia and Germany deny any such allegation.Read the article
January 4
Anthony Cordesman, the CSIS Arleigh A. Burke Chair in Strategy, and Robert Ebel, a senior advisor with the CSIS Energy Program, were quoted by Reuters, "Energy Crisis? Not on U.S. Campaign Trail."
It has been called the 800-pound gorilla but it's getting scant attention in the U.S. election. And yet it could well be one of the most pressing issues facing the next winner of the Oval Office. Energy security, or the nation's ability to procure oil whenever needed, looms large for the current and future U.S. president after oil hit $100 a barrel this week and put markets on a razor's edge between supply and demand. [...] "Everyone's making the usual comments but none of the candidates has offered any practical details," said Anthony Cordesman, energy expert at the Center for Strategic and International Studies in Washington, who gives all the candidates poor grades on energy issues. [...] Robert Ebel, senior adviser at the Center for Strategic and International Studies, does not think it will be a major issue for Americans when they head for the voting booths. "It's important, but I wouldn't put it at the top of the list," he said, adding Americans care more about education, health care, or the price of goods.Read the article
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