September 2008

Trends and Resources

HP Impact: HPImpact: Think tank proposes strategies to ensure global energy security

A new report released by Rice University's Baker Institute for Public Policy suggests strategies to deal with the current turmoil in the global energy markets, including the role of petrodollars in t..

Weirauch, Wendy, Hydrocarbon Processing Staff

A new report released by Rice University's Baker Institute for Public Policy suggests strategies to deal with the current turmoil in the global energy markets, including the role of petrodollars in the US credit bubble. "Petrodollar flows play a major role in the current credit-bubble dilemma," according to Mahmoud El-Gamal, Rice professor of economics and a scholar at the Baker Institute who helped write the report. He says that the excess liquidity that resulted from the run-up in oil prices after 2003 partly fueled the subprime mortgage crisis. While the money coming from East Asia also played a role, Prof. El-Gamal noted that the outflow from Saudi Arabia and Kuwait now rivals

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