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Durham University

Durham Energy Institute

Past Events

Find out about some of the previous events held by Durham Energy Institute:

IAS Fellows Seminar

25th February 2013, 13:00 to 15:00, Institute for Advanced Study, Dr. Wilf Wilde

ELUSIVE REVOLUTIONS AND THE PRICE OF OIL

Dr Wilf Wilde

Chaired by Professor Richard Davies

In 1974 Ruth First then teaching at Durham, published a book called ‘Elusive Revolutions’ on the army coup that brought Colonel Gaddafi to power in Libya in 1969. The idea of ‘Elusive Revolutions’ still seems a useful way into the political economy of North Africa and the Middle East since 2011. I will look in this talk mainly at Egypt, Iraq and Libya.

My main thesis is that the oil price has been driven to new long run equilibrium highs by global geopolitics. As the events of the Arab Spring have shown, this will be as true in the twenty first century, as it was in the twentieth. The oil market has been telling us since 2011 that we are in a new energy era. So what I call the Empire of Capital lies to us and fight wars for its ‘energy security’.

Further information on the seminar can be found on the IAS webpage here: https://www.dur.ac.uk/ias/events/seminars/wilde/