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The Impending Oil Shock: An Exchange 

Authors: Amy Myers Jaffe - Amy Myers Jaffe is the Wallace S. Wilson Fellow for Energy Studies at the James A. Baker III Institute for Public Policy at Rice University. She is co-editor of The Geopolitics of Natural Gas (Cambridge University Press, 2005) and Energy in the Caspian Region: Present and Future (Palgrave, 2002). She has a new book on petrodollars coming out next year.;  Michael T. Klare - Michael T. Klare is Professor of Peace and World Security Studies at Hampshire College in Amherst, Massachusetts, and the author of several books on global resource politics, including Resource Wars (2001), Blood and Oil (2004), and Rising Powers, Shrinking Planet: The New Geopolitics of Energy (2008).; Nader Elhefnawy - Nader Elhefnawy currently teaches at the University of Miami. He has previously published on international and security issues in journals including Astropolitics, International Security and Parameters.
DOI: 10.1080/00396330802329048
Publication Frequency: 6 issues per year
Published in: journal Survival, Volume 50, Issue 4 August 2008 , pages 61 - 82
Formats available: PDF (English)
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Abstract

In the April-May 2008 issue of Survival (vol. 50, no. 2, pp. 37-66), Nader Elhefnawy argued that oil production is approaching its peak, with consequences that are likely to be dramatic. There will be increased risk of state failure and resource conflict; the economic balance of power among major industrial states will shift according to their relative abilities to adapt to a scarcity of fossil fuels; and oil producers will enjoy greater political power. Survival invited two experts on strategic energy issues, Amy Myers Jaffe and Michael T. Klare, to comment on Elhefnawy's essay, and Elhefnawy to respond.
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