Dr. Alec Waterworth has this month had a paper published in Energy Policy, along with his co-author Prof. Mike Bradshaw (WBS). The paper, titled "Unconventional trade-offs? National oil companies, foreign investment and oil and gas development in Argentina and Brazil", examines the industry's emerging new political economy in terms of competition both between and within International Oil Companies (IOCs) for rival oil and gas prospects. In utilising case studies from Brazil and Argentina, the paper finds that unconventional and deep-water projects are complementary rather than competing assets of an IOC's portfolio, along with clear evidence that political risk and instability as the most pressing inhibitors to investment. The paper can be found here.