Global energy markets are in flux, from the rapid growth in renewable energy production and falling technology costs to talk of peak demand and calls for urgent action on climate change. At the same time, greenhouse gas emissions went up last year at the fastest rate they have since 2011, and we saw growth in coal, oil and gas production and consumption. When it comes to energy and climate issues, there’s tension between the rhetoric, our ambition, and the reality of the facts on the ground.
In this edition of Columbia Energy Exchange, host Jason Bordoff is joined by Christof Rühl, an internationally renowned economist specializing in macroeconomics and energy economics. Christof served as chief economist at BP for nearly a decade, and most recently, was the head of research at the Abu Dhabi Investment Authority.
Jason and Christof discuss how energy markets are impacting geopolitical risk and the global economy— from sanctions to trade wars and the escalating tensions in the Strait of Hormuz. They talk about the shale revolution, and its global implications as the U.S. becomes a major exporter of both natural gas and crude oil. They also discuss plastics, electric vehicles and new technologies from advanced nuclear to battery storage and hydrogen, and the role they might play in the energy transition.