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OPEC produces about 40% of the world’s crude oil and its members’ exports make up around 60% of global petroleum trade. The group aims to regulate global oil prices by coordinating on reductions or increases in production.
Founded in 1960, the Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization with a mission to coordinate and unify the petroleum policies of member countries and ensure the stabilization of oil prices in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital ...
Areas of research include safeguarding the region’s environment and wildlife. The association’s Center for Biodiversity was established to promote cooperation on conservation and sustainability throughout the region and serves as secretariat of ASEAN Heritage Parks, which oversees 37 protected sites.
International trade is a driving force behind economic growth, and two so-called “mega-regional” trade deals are dominating public debate on the issue: the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP).
Supply has not been able to fully respond to increased demand. OPEC has been scaling up oil production slowly, but it also has limited spare capacity and is probably cautious not to oversupply the market again. Beyond spare capacity, oil production has very long investment cycles.
In 2015, in response to the growing urgency of climate impacts, nearly every country in the world signed onto the Paris Agreement, a landmark international treaty under which 195 nations pledged to hold the Earth’s temperature to “well below 2 degrees Celsius above pre-industrial levels,” and going further, aim to “limit the temperature increase to 1.5 degrees Celsius above pre ...
The G20 is a forum of the twenty largest economies in the world that meets regularly to discuss the most pressing issues facing the global economy.
Ahead of COP27, the world's focus has turned firmly to global efforts to tackle climate change. One of the cornerstones of that effort is the Paris Agreement.
RCEP is a big deal, literally and metaphorically. When it’s signed off, the Regional Comprehensive Economic Partnership will create a free trade zone covering about 30% of the world’s gross domestic product, trade and population.
There will be new infrastructure, of course, and that will be an obvious and easy metric of success. In twenty or thirty years some of the new Belt and Road projects will likely stand as the highest example of what human ingenuity can achieve in its drive to master natural forces.