THE LOW OIL PRICE ENVIRONMENT: IMPLICATIONS FOR NATO
THE LOW OIL PRICE ENVIRONMENT: IMPLICATIONS FOR NATO
Author(s): Michael RÜHLE, Julijus GRUBLIAUSKASSubject(s): National Economy, Energy and Environmental Studies, Environmental and Energy policy, Government/Political systems, Security and defense, Political behavior, Financial Markets
Published by: Centrul tehnic-editorial al armatei
Keywords: oil price; “P5+1 process”; petro-states; “fracking” industry; global stability;
Summary/Abstract: The authors discuss the low oil price possible implications for NATO. Firstly, the causes of the oil price collapse are mentioned. The flat oil consumption, the massive increase in the US unconventional oil and gas production, and the lack of consensus within the OPEC are among them. Then, the prospects for a price rise are analysed. In this regard, it is shown that the economies of Russia and many other oil-producing countries will suffer financial losses. In this context, NATO will have to deal with several actors in the region whose geopolitical objectives are not only at odds with one another, but whose political agendas might also be increasingly determined by the need to cope with economic decline and domestic unrest – a development that would make them even less predictable.
Journal: Romanian Military Thinking
- Issue Year: 2015
- Issue No: 4
- Page Range: 187-193
- Page Count: 7
- Language: English
