A World with Less Oil
The Consequences

U.S. oil production is at its lowest level since 1950, while global demand continues to grow. As investment in production and refining capacity has lagged in recent years, energy prices have soared. Although there are similarities with previous oil price fluctuations, the current situation has certain specific features. Many are alarmed by the possibility of global oil production peaking in the near future but fail to grasp the implications of such a situation.

Please join us as James Hamilton of the University of California San Diego presents his view of the likely aftermath of declining oil production, and the consequences that he believes are already on the horizon. AEI resident scholar Kevin Hassett and Roger Kubarych of the Council of Foreign Relations will then discuss the issues. AEI resident scholar Phillip Swagel will moderate the discussion.

About the Author

 

Phillip
Swagel
  • Phillip Swagel, an economist and academic, was assistant secretary for economic policy at the Treasury Department from 2006 to 2009, where he was responsible for analysis on a wide range of economic issues, including policies relating to the financial crisis and the Troubled Asset Relief Program. He has also served as chief of staff and senior economist at the White House Council of Economic Advisers and as an economist at the Federal Reserve Board and the International Monetary Fund. He is concurrently a professor of international economics at the University of Maryland's School of Public Policy.  He has previously taught at Northwestern University, the University of Chicago’s Booth School of Business, and Georgetown University. Mr. Swagel works on both domestic and international economic issues at AEI.  His research topics include financial markets reform, international trade policy, and the role of China in the global economy.
  • Phone: 2026874869
    Email: pswagel@aei.org
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