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The Trump Administration is escalating military operations against the Houthi pirates and terrorists and focusing on the future of the Iranian nuclear program. If hostilities in the Middle East are affecting oil production and transportation, especially in the Persian Gulf, and specifically in the Strait of Hormuz, oil prices may be affected.
Simultaneously, the White House is eager to show the world that its energy strategy represents a bold, dramatic shift. Energy Secretary Chris Wright delivered keynote remarks on the opening day of S&P Global’s annual CERAWeek conference, dismissing Biden’s “myopic” focus on climate change and underscoring the Trump team’s commitment to reindustrialization over deindustrialization.
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The 29th annual UN Climate Change Conference begins on November 11th in Baku, Azerbaijan. Many environmentalists are pessimistic about the conference, with the choice of Azerbaijan as the host country, China’s negotiation strategies, and the American election results.
A major Russian military buildup on the border with Ukraine has recently sparked fears of a potentially dramatic escalation in the simmering seven-year conflict between the two countries. Although tensions have eased somewhat following Moscow’s April 22 announcement of troop withdrawals, the threat of a new Russian offensive remains.
