Seminar: The Global and Asian Energy Balance and the Financial Crises: Have the Tables Turned?


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Research Brown Bag Seminar

When: Nov 18 2008 (All day)
Where: John A. Burns Hall, Room 3012
The Global and Asian Energy Balance and the Financial Crises: Have the Tables Turned?

Fereidun Fesharaki, Senior Fellow

November 18, 2008  12:00 – 1:00 pm

John A. Burns Hall, Room 3012, 3rd floor

The global energy crunch has led to higher energy prices and created a major response in terms of demand cuts. The United States lost nearly one million barrels per day of demand in the first 9 months of 2008, before the unraveling of the financial world and the emergence of the credit crunch.  For Asia, the economic recession means less exports, factory closures, and unemployment resulting in lower energy demand.  Meanwhile, lower oil prices are encouraging oil consumption in Asia and the US, tempered by the rise in the US dollar. How do all of these conflicting signals translate in terms of Asia's oil demand, dependency on imports, and the prospects of further increase in the price of oil?  How do the OPEC nations react to losing 50 percent of their income and will they be able to reverse the prices trends? How will Asia fare in the next few years and are there policy options to take advantage of given this special time and weakness in price and demand?

Fereidun Fesharaki is a part-time Senior Fellow in the Research Program. He has led energy research at the East-West Center for 24 years.  He is a past President of the International Association for Energy Economics, a Senior Fellow of the US Association for Energy Economics, Senior Associate of the CSIS in Washington D.C., member of the Board of Directors of American-Iranian Council, member of the Advisory Board of the Nippon Oil—Japan's largest oil company, member of the Council on Foreign Relations in New York, and Chairman of FACTS Global Energy.  He serves on the Editorial Board of numerous energy journals.

Primary Contact Info:
Name: Laura Moriyama
Phone: 808-944-7444