Strategic Capital

CSIS experts research the public incentives and private funds needed to achieve national and economic security priorities, focusing on supply chains and critical technologies.

Photo: ANDER GILLENEA/AFP via Getty Images

Photo: ANDER GILLENEA/AFP via Getty Images

Navigating a New Energy Investment Paradigm

Fragmentation, volatility, and scarcity are ushering in a pragmatic new normal, in which low-emission energy and fossil fuels can both be attractive. As state intervention intensifies, proactive and coherent policy is needed to align investment flows with strategic objectives.

Report by Ray Cai — November 13, 2025

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Jen Berlin

Jen Berlin

Vice President, Economic Security and Technology Department
Phil Luck

Philip Luck

Director, Economics Program and Scholl Chair in International Business
William Alan Reinsch

William Alan Reinsch

Senior Adviser and Scholl Chair Emeritus, Economics Program and Scholl Chair in International Business
Joseph Majkut

Joseph Majkut

Director, Energy Security and Climate Change Program
Jerry McGinn

Jerry McGinn

Director, Center for the Industrial Base and Senior Fellow, Defense and Security Department
Ilaria Mazzocco

Ilaria Mazzocco

Deputy Director and Senior Fellow, Trustee Chair in Chinese Business and Economics
Erin L. Murphy

Erin L. Murphy

Deputy Director, Chair on India and Emerging Asia Economics and Senior Fellow, Emerging Asia Economics

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Navigating a New Energy Investment Paradigm

Fragmentation, volatility, and scarcity are ushering in a pragmatic new normal, in which low-emission energy and fossil fuels can both be attractive. As state intervention intensifies, proactive and coherent policy is needed to align investment flows with strategic objectives.

Report by Ray Cai — November 13, 2025

When Business and Politics Collide: Lessons from Nippon Steel

The CSIS Japan Chair examines the dynamics behind Nippon Steel’s acquisition of U.S. Steel and the broader lessons that might be drawn for future investment, government-business relations, U.S. policy, and U.S.-Japan relations. 

Event — October 29, 2025

SBIR and the Role of Multiple Awards

SBIR’s purpose is to identify and support excellence in innovation. Instead of limiting participation, Congress should expand the program’s capacity to support success—wherever it arises—and take meaningful steps to ensure projects can reach the finish line. 

Blog Post by Charles Wessner and Sujai Shivakumar — July 29, 2025

Trump Sends Weapons to Ukraine: By the Numbers

Since President Trump took office, military aid to Ukraine has been on and off, then partially on, then on again, and then increased further. A series of visuals explains the history, the status of aid deliveries, and the recent U.S.-NATO deal.

Critical Questions by Mark F. Cancian and Chris H. Park — July 15, 2025