CGEP Director Jason Bordoff joined Stephen Colbert to discuss falling oil prices during the last week of the Colbert Report on Comedy Central.

Jason Bordoff, founding director at the Center on Global Energy Policy, offers insight into when a decline in growth of oil production in the United States could realistically happen in an interview for CNBC.

Every week, The WorldPost asks an expert to shed light on a topic driving headlines around the world. This week the WorldPost spoke to Jason Bordoff, founding director of Columbia University’s Center on Global Energy Policy, about the political fallout of declining oil revenues around the world.

“We have seen a historic development in global energy markets in shale innovation in America in the last five or six years, which has led to staggering US oil and gas production,” says Jason Bordoff, director of Columbia University’s Center on Global Energy Policy and a former energy adviser to President Obama. “Having said that, when you look at the fundamentals in the global oil market, there continues to be a great deal of geopolitical risk in key producing areas. All of it is very promising, but there’s a lot of uncertainty.”

Russia's $40 billion South Stream gas pipeline project has fallen victim to plunging energy prices, stalling European demand and the political standoff between the European Union and Moscow over the crisis in Ukraine. "It (scrapping South Stream) reflects internal Russian pressure on where it is going to invest limited resources at a point in time when sanctions are hitting," said Carlos Pascual, a fellow at Columbia University's Center on Global Energy Policy, referring to Western sanctions over Ukraine. "It's harder, more expensive to access capital and the fastest growing gas markets in the world are in Asia, and Russia has virtually no export capacity to the Asian market," he added.

CGEP Director Jason Bordoff discusses the oil market, the factors that can keep prices at lower levels for an extended period of time and looks at the individual countries who will suffer the most from the price plunge. He speaks on “Market Makers.”

The oil pendulum is swinging in the home stretch of 2014. Oil has spent years at roughly $100 a barrel, down significantly from the terrifying levels of the 2007 and 2008 when analysts were speaking of $200 a barrel with confidence. Oil production is up all across the world in places like North America, and in oil rich and oil dependent Russia. Prices are falling and stable, and analysts are confidently saying that prices could dip to as low as $60 or $50 a barrel. The Organization of Petroleum Exporting Countries (OPEC) and the Saudis could stop this slide and halt temporary contentment at the gas pumps. But last week they said they would keep pumping. Are they trying to stimulate the global economy, or squeeze the Russians and Iranians, and maybe force some kind of breakthrough in Ukraine and Syria? Jason Bordoff, a professor of international and public affairs and director of the Center on Global Energy Policy at Columbia University, explains.

Concerns about energy security have shot to the top of the political agenda in Europe. But the US has no intention of letting the EU down. “The United States will be working with the EU to develop a plan for the mid- to long-term evolution of a more energy-secure future”, said US Secretary of Energy Ernest Moniz at a conference of the Atlantic Council in Istanbul.

It’s Black Friday, and oil prices are falling through the floor! Should you rush out and buy that mega-SUV your sweetheart has been eyeing for years of $4 per gallon gasoline? Probably not, says Jason Bordoff, a former special assistant to President Obama and senior director for energy and climate change for the National Security Council.

The conflict in Iraq has created a threat to future oil production that could drive up prices, the developed countries’ energy watchdog has warned.