New AtlanticistApr 14, 2020
Oil price war ends, but coronavirus demand crisis remains
By Reed Blakemore
The result of the OPEC+ marathon negotiations should help restore some positive market sentiment and possibly firm up something of a price floor over the short term. However, the impact of a month-long price war, amidst deteriorating oil demand, risks eventually drawing the deal into sharp relief over the next few weeks.
EnergySourceApr 9, 2020
Hurdles to OPEC++
By Phillip Cornell
This week in oil markets has an air of suspended animation. Will an international production deal materialize? The answer is “perhaps,” but probably not in the volumes necessary to balance the market and only after Moscow extracts concessions.
New AtlanticistMar 24, 2020
The implications of the coronavirus crisis on the global energy sector and the environment
By Jennifer T. Gordon
The current drop in oil demand—caused, in large part, by severe reductions in travel due to the coronavirus—combined with the Saudi-Russia oil price war has simultaneously, if temporarily, lowered greenhouse gas emissions (GHG). However, the drop in GHG emissions is likely to be unsustainable in the long term, and the currently low cost of oil has raised questions about the future of clean energy deployment and climate action.
Phillip Cornell is a nonresident senior fellow at the Atlantic Council’s Global Energy Center. He is a specialist on energy and foreign policy, global energy markets and regulatory issues, critical energy infrastructure protection, energy security strategy and policy, Saudi Arabian oil policy, Gulf energy economics, and sustainable energy transition policy.
He is currently Principal for Energy and Sustainability at Economist Impact.
Prior to joining the Atlantic Council, Cornell was a senior corporate planning advisor to the Chairman and CEO of Saudi Aramco, where he provided market analysis and business development support to the executive management during the implementation of Saudi oil price strategy. In that capacity, he also provided advice to the Royal Court in the context of Saudi economic transition and foreign policy.
From 2011-2014 he was special advisor to the executive director of the International Energy Agency (IEA) in Paris, responsible for strategic messaging and policy advice to the Executive Office of the IEA. Previously, he developed IEA simulations and war-gaming among ministries in preparation for major oil and gas emergencies.
Before joining the IEA, Cornell served with NATO as the senior fellow and director of international programs at the NATO School (NSO) in Oberammergau, Germany, where his policy research focused on NATO and energy security. During that period, he also served on the secretary general’s committee in Brussels to develop NATO policy in the area of energy infrastructure security.
Cornell has held research positions at the Naval Postgraduate School (Monterey), the Royal United Services Institute (London) and the Center for International Security and Cooperation (Stanford), and he is the author of a number of articles and volumes on energy security and security policy. He holds Masters degrees with distinction in International Economics (energy focus) and European Studies (security focus) from the Johns Hopkins School of Advanced International Studies. He received his BA cum laude in International Relations from Stanford University.