Recorded: July 14, 2020
Moderator: Patrick Ryan, President, Tennessee World Affairs Council
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The global energy market is in turmoil. Inventories are high and demand is low. We recently saw a negative price call for crude oil and fully laden tankers are sitting at anchorages waiting for customers. The International Energy Agency said oil demand was “down nearly 5% in the first quarter, mostly by curtailment in mobility and aviation which account for nearly 60% of global oil demand. By the end of March, global road transport activity was almost 50% below the 2019 average and aviation 60% below. The energy market fallout from the pandemic, and the crash in oil prices, has threatened the economic stability of numerous countries, especially those in the Organization of Petroleum Exporting Countries (OPEC). Some have sought to ensure market share through price slashing over production, worsening the inventory glut.
This Global Dialogue episode with veteran journalist, author and scholar Thomas Lippman will aim to sort through the global energy crisis and to discuss his new book, “Crude Oil, Crude Money.” It, “tells the untold story of how Exxon, Mobil, Chevron, and Texaco teamed up with the CIA and Department of State to thwart the plans of Greek shipping magnate Aristotle Onassis, who almost managed to reshape the Middle East.”
About Thomas Lippman
Thomas W. Lippman is an author and journalist who has written about Middle Eastern affairs and American foreign policy for four decades, specializing in Saudi Arabian affairs, U.S.- Saudi relations, and relations between the West and Islam. He is a former Middle East bureau chief of the Washington Post, and also served as that newspaper’s oil and energy reporter. Throughout the 1990s, he covered foreign policy and national security for the Post, traveling frequently to Saudi Arabia and other Middle East countries. He has been a frequent visitor to Saudi Arabia for many years.
Before his work in the Middle East, he was the Washington Post correspondent in Vietnam and Cambodia.
Lippman is the author of numerous magazine articles, book reviews and op-ed columns about Mideast affairs, and of eight books about the Middle East and Islam. His latest book, Crude Oil, Crude Money: Aristotle Onassis, Saudi Arabia, and the CIA,” was published in 2019.
Lippman has appeared on all major US television networks, NPR, the BBC, and many television stations overseas. He has lectured on Gulf regional affairs at the U.S. Air Force Special Operations School, at the National Defense University, at the State Department’s Foreign Service Institute, and at the Brookings Institution. He has also been also a consultant to film producers, the Central Intelligence Agency, the National Counterterrorism Center, and corporations that do business in the Gulf.
Lippman is an adjunct scholar at the Middle East Institute in Washington and was an Edward R. Murrow Fellow at the Council on Foreign Relations.