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

Peak oil demand image

Peak oil demand and long run oil prices by Dale and Fattouh: a critique

February 12, 2018

Energy Video

The challenge of climate change has left the oil companies on the back foot. What do they do? They are beholden to their shareholders, who look to their dividends and in many cases treat them as proxies for utilities. Those dividends are built on oil...

Publications

  • Video Climate Change Climate Change and carbon pricing
    March 10, 2015

    Presentation for The Department of Economic and Social Affairs (DESA) United Nations Secretariat
  • Publication Energy What should oil companies do about climate change?
    February 26, 2015

    Imagine you are chief executive of a major oil company. Your economic forecasts tell you that the world remains stubbornly on a fossil fuel path for decades to come. The world is going to need you. But your forecasts also tell you that the result will be
  • Video Europe Building an Energy Union
    February 12, 2015

    Presentation for Energy Infrastructures Towards the creation of a European Energy Union Conference. Commercial University Luigi Bocconi, Milan
  • Publication Energy The road to re-regulation
    January 12, 2015

    The Labour Party has followed up its manifesto promise to freeze prices for 20 months if they win the General Election in May with a proposal for legislation now. Ed Miliband says: "We're going to bring before the House of Commons a vote in Parliament to
  • Publication Energy The price of oil
    December 3, 2014

    The recent falls in oil prices have come as a shock to many. Only a few months ago, the IEA and many other mainstream forecasters predicted the price would gradually go up. This fitted with the political assumptions that lay behind the dash for wind and c
  • Publication Energy What future for vertically integrated energy companies?
    September 4, 2014

    The Big 6 British energy companies are under sustained attack from politicians and the media, and the Competition and Markets Authority (CMA) inquiry is being urged to consider whether they should be broken up. Unsurprisingly the companies have been putti
  • Publication Energy The Return of the CEGB? - Britain's central buyer model
    June 26, 2014

    Though no part of any grand plan, and certainly not by intention, the British energy market has morphed from a liberalized quasi-competitive market into one that is driven by the state. It has happened largely by accident rather than design, but it also h
  • Publication Europe Ukraine, Europe and Energy
    June 1, 2014

    After a short pause, the borders of east and southeast Europe are again in flux, as they have been on and off since the early Russian people established Kiev as their capital. Crimea was annexed by Catherine the Great. The British and others fought the Cr
  • Presentation Europe Europe’s Energy Future: Rejuvenation or decline?
    May 22, 2014

    Slidepack for the FLAME 2014 conference May 22nd 2014.
  • Publication Europe A Credible European Security Plan
    May 22, 2014

    The European Commission was instructed by the Council of Ministers in March 2014 to draw up an energy security plan in time for the next Council of Ministers meeting in June 2014.
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