THE SHIFTING ENERGY LANDSCAPE AND THE GULF ECONOMIES’ DIVERSIFICATION CHALLENGE
Payne Fellow Samantha Gross writes about the hydrocarbon-dependent countries of the Gulf Cooperation Council (GCC) face challenges in adjusting to the new reality in energy markets. Growing oil and gas production in the United States and growing concern about climate change mean that their hydrocarbon revenues are likely to decline over the long run. At the same time, growing populations and a rentier social contract make declining revenues a challenge for governance and stability. December 2019.