Some notes about Energy

There are three profound challenges facing the energy sector around the world. First, the great commodity super cycle has come to an abrupt end, leading to crashes in the oil, coal and gas prices - undermining the finances of the main producer countries and the companies. 

Secondly, the climate challenge is upon us, and if it is to be addressed, the fossil industries will have to close down over the rest of this century, with or without CCS.

Third, and partly spurred by the drive for low carbon forms of energy, technical change is bringing a transformation not seen since the nineteenth century. New forms of electricity generation, storage, smart infrastructures and radical changes to energy demand are already undermining the conventional technologies. Electric cars and the challenge of new materials to the petrochemical industries are playing their parts too in this great period of change.

These three great changes all fit together.

Energy

Energy
Energy

Energy
Europe

Energy
Climate Change

Latest Publication

Untitled design

Burn Out - The endgame for fossil fuels

August 1, 2017

Energy Publication

A summary of my new book published in March 2017 by Yale University Press.

Publications

  • Publication Energy The CMA Energy Market Investigation: Companies 5-0 CMA?
    March 15, 2016

    The Big 6 energy companies have scored a great victory at the CMA, and against considerable odds. Faced with an adverse finding that they have made excess returns of around £1.7 billion per annum for the period 2012- 2015, rising to £2.5 billion in the la
  • Video Energy Fossil Fuels: Is it the end?
    March 5, 2016

    Video Presentation for Warwick Climate Forum
  • Presentation Energy The Price of Oil - in the short and long run
    February 9, 2016

    Presentation slides for International Petroleum Week conference - 9th February 2016.
  • Publication Energy The new normal: oil prices after the crash
    February 9, 2016

    They did not see it coming and ever since the oil price started its precipitous crash from the $100 level, they have been reeling. The “they” includes investors, company directors and the resource-cursed governments. At first, they expected it to be a tem
  • Video Energy The new normal- oil prices after the crash
    February 9, 2016

    They did not see it coming and ever since the oil price started its precipitous crash from the $100 level, they have been reeling. The “they” includes investors, company directors and the resource-cursed governments. At first, they expected it to be a tem
  • Publication Energy Stranded Assets - a deceptively simple and flawed idea
    October 22, 2015

    The stranded assets argument has an elegant simplicity. Start with a maximum of 2 degrees warming. Work backwards to the total amount of additional carbon dioxide that can be emitted, consistent with this constraint. Compare this with the booked reserves
  • Publication Energy Reforming the FiTs and capacity mechanisms: the 2-stage capacity auction
    September 3, 2015

    Back in 2010, as Energy Market Reform (EMR) was getting going, I proposed a 2-stage auction as a way of combining mechanisms for meeting the carbon targets with the maintenance of a sufficient security margin. The first stage would be open to all, and the
  • Publication Energy The first 100 days of Conservative energy policy
    August 24, 2015

    Amber Rudd, the Secretary of State for Energy and Climate Change, has had a very busy start. She has ended new subsidies for onshore wind, reined back the Green Deal, removed the exemption from tax for renewables, ended the zero-carbon homes plan, removed
  • Publication Energy Penalty tariffs, open-ended regulation and embedding overcharging
    July 20, 2015

    When, in the face of the sustained attacks from Labour’s Ed Miliband and Caroline Flint, OFGEM referred the electricity industry to the Competition and Markets Authority (CMA), many hoped the result would settle the controversies once and for all, restori
  • Video Energy Evaluating the Impact of new Technologies - The end of the traditional utility model
    June 25, 2015

    Presentation for NEM Future Forum 2015
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