5 Problems of the Modern World

On Sunday, May 17, the fourth session of Pavel Usanov’s new course, “5 Problems of the Modern World,” will take place. We invite you to join us either in person in Tbilisi or online.

The fourth session will focus on one of the most important markets in today’s world — the oil market — and on the major events of recent years that continue to shape it.

We will examine how oil prices have risen in recent years — from negative values during the pandemic to historic highs.

Why is the oil market so heavily politicized, and can anything be done about it? Could oil eventually run out, and what would happen then? How are prices formed in this market? Is investing in green energy a rational strategy, and is the environmental situation really getting worse? We will also look at what economic science says about the future of the oil market.

Together we will explore the following questions:

• How did oil become the key resource of the global economy?
• Who are the major players in the oil market?
• How did John D. Rockefeller become the richest man in the world through this industry?
• How do speculators make money in this market?
• How do wars and epidemics affect oil prices?
• Are we facing an environmental catastrophe because of oil?
• Is it worth investing in green energy?
• Why are all of us dependent on oil prices?
• How has the oil market contributed to the rise of autocracies?
• What is “Dutch disease,” and does it need a cure?

You will receive in-depth answers to all these questions and more during the lecture by Pavel Usanov.

This lecture is part of the course “5 Problems of the Modern World,” which explores the most pressing issues of our time — pandemics, wars, artificial intelligence, and more.

Pavel Usanov is an economist, PhD in Economics, member of the presidium of the Ayn Rand Foundation, and founder and director of the Friedrich von Hayek Institute of Economics and Law.

Join us for a meeting with the author of the popular YouTube channel “Pavel Usanov” and four published books.

🗓 May 17, 6:00 PM
📍 Betlemi 23, Tbilisi

Single lecture ticket — 20 GEL
Online stream access — 20 GEL

If you’d like to join the online course or learn more about full-course access, contact the speaker at: usanov.hayek@gmail.com

To attend in person, please register via the bot through the link in @frame_tbilisi’s profile.