Simon Henderson is the Baker fellow and director of the Bernstein Program on Gulf and Energy Policy at The Washington Institute, specializing in energy matters and the conservative Arab states of the Persian Gulf.
Articles & Testimony
In the current act, Russia enjoys advantages over its Western rivals, including high revenues and the gas that keeps Ukrainians and Germans warm.
The audience has taken its seats. The curtain is going up. The rehearsals during recent weeks are over. The real drama is about to begin. But it is still unclear whether it will be a farce or a tragedy. Such is the theater in prospect for international energy markets over the next few weeks. The script has yet to be finalized but some of the lines have been tested with the public over the past month or so. Because it is wintertime, at least in the Northern Hemisphere, everyone came to the performance wearing a coat. But the days are already growing longer, and most people are hoping for some warmth of an early spring and a decline in household energy bills, at least until summer temperatures cause the air conditioning to be turned up. That should result in lower prices of oil and natural gas as demand eases. But so far it hasn’t happened...