Consequences of 1973 oil embargo on current energy climate to be examined at Rice’s Baker Institute Oct. 17

Saudi Arabia’s Prince Turki Al Faisal Al Saud to participate in discussion

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HOUSTON – (Oct. 5, 2023) – Energy and foreign policy experts will examine the lessons learned from the 1973 oil embargo and their renewed relevance for today’s energy crises — triggered by Russia’s invasion of Ukraine and the risks presented by climate change — for countries, policymakers, companies and the public on Oct. 17 at Rice University’s Baker Institute for Public Policy.

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The conference will feature remarks from Prince Turki Al Faisal Al Saud, former ambassador of Saudi Arabia to the U.S., and Baker Institute Honorary Chair and former U.S. Secretary of State James A. Baker III along with other policymakers, industry leaders and academics.

Fifty years ago, the embargo cut exports to the U.S. and other countries and the world saw massive changes in the economy, geopolitics and public policy — including a shift in the control of global oil production from Western companies to governments in the Middle East and elsewhere.

What: Baker Institute event – Chaos in Energy Markets Then and Now: 50 Years After the 1973 Arab Oil Embargo

When: Oct. 17, 8 a.m.-1 p.m.

Who: David Satterfield, director of the Baker Institute; Jim Krane, Baker Institute’s Wallace S. Wilson Fellow for Energy Studies; Ken Medlock III, senior director of Baker Institute’s Center for Energy Studies; Adam Sieminski, senior advisor to the board at KAPSARC and former administrator for the U.S. Energy Information Administration; Mahmoud El-Gamal, Baker Institute Rice Faculty Scholar and Chair in Islamic Economics, Finance and Management at Rice; Sarah Emerson, president and head of research and market analysis at ESAI Energy; Ichiro Kutani, director of energy security at Japan’s Institute of Energy Economics; Robert McNally, president of Rapidan Energy Group; Raad Alkadiri, managing director of energy, climate and resources at Eurasia Group; Nathan Citino, Baker Institute Rice Faculty Scholar and Barbara Kirkland Chiles Professor of History at Rice; Sara Vakhshouri, founder of SVB Energy International and SVB Green Access; with Mark Finley, Baker Institute fellow in energy and global oil, and Kristian Coates Ulrichsen, Baker Institute fellow for the Middle East, as moderators.

Where: Rice’s James A. Baker III Hall. The event is free, but registration is required. Register here to attend in person or receive a link to the livestream.

This event is sponsored by the Baker Institute Edward P. Djerejian Center for the Middle East and Center for Energy Studies.