China is the world’s largest energy producer, energy consumer and greenhouse gas emitter. Many analysts believe that this year, China will surpass the US to become the world’s largest oil importer. China has the world’s largest shale gas resource and leads the world in the deployment of solar panels. On this episode of Columbia Energy Exchange, host David Sandalow sits down with Fu Chengdu, who recently retired as Chair of Sinopec, a Chinese state-owned oil and gas company and the second largest company in the world according to Fortune Magazine. Among the topics they discussed: What impact will China have on global oil markets in the months ahead? Can China develop its enormous shale gas resource? What steps is China taking to clean the air in its cities and address climate change? And many more. This conversation was originally recorded on July 1, 2016.
One year ago, the United States and its partners concluded their negotiations with Iran on the Joint Comprehensive Plan of Action (JCPOA), an agreement intended to reduce the threat from Iran's nuclear program in exchange for economic sanctions relief. Implementation of the agreement began in January 2016. Richard Nephew, program director for economic statecraft, sanctions and energy markets at the Center on Global Energy Policy, who was the lead sanctions negotiator for the United States from 2013-2014, has written a report on six months' implementation of the nuclear deal, particularly with respect to sanctions relief. He concludes that sanctions relief has been stalled as much by concerns over residual sanctions as domestic regulatory factors and low oil prices globally. On this episode of Columbia Energy Exchange, host Bill Loveless sits down with Nephew to discuss his report and the status of the Iran agreement's implementation at 6 months. Among the topics they discuss are: Is the agreement delivering to all sides the benefits it provided for? How has Iran’s oil sector responded to the lifting of nuclear sanctions? What impediments face oil companies looking for business opportunities in Iran? What’s in store for the next president when it comes to the Iran agreement?
U.S. energy policy has gone through many twists and turns over the past 40 years, as the nation transitioned from gasoline lines to an abundance of oil, natural gas and renewable energy. No one has been more involved in shaping and analyzing energy policy than Phil Sharp, having spent 20 years as one of the leading lawmakers on the topic and the last 11 as the President of Resources for the Future, Washington D.C.’s oldest think tank devoted exclusively to analysis of energy and the environment. Sharp recently joined the Center on Global Energy Policy as a Fellow. On this episode of Columbia Energy Exchange, host Bill Loveless talks with Sharp about his time as a lawmaker in D.C., when Congress worked on a bipartisan basis to enact policies addressing concerns over the production of energy and how we consume it. During the conversation Sharp recalls some of the biggest battles over energy policy on Capitol Hill, the dramatic changes in U.S. energy fortunes, and what we can learn from these experiences, including: The oil shortages of the 1970s, and how they drove the development of legislation; The politics of energy, and how regions, more than party identify, influenced votes; His close relationship with former Rep. John Dingell (D-Mich.), one of the most powerful figures in energy policy; and How the landscape for energy has changed in the U.S., with less concern over supply and more focus on the environment. And more.
Global energy markets are in the midst of a historic transition, from the Paris climate agreement and rapidly falling renewable energy costs to the collapse of oil prices and the US shale boom. The changing dynamics highlight why collecting and analyzing the fundamentals of the global energy market is critical for developing sound energy and economic policy. This task has only become more difficult with the pace of technological change in the energy sector, growing climate policy efforts, and the shifting dynamics of geopolitics. On this episode of Columbia Energy Exchange, host Jason Bordoff sits down with Adam Sieminski, Administrator of the US Energy Information Administration (EIA), to discuss future trends in energy and the way EIA collects and analyzes data. Among the topics they discussed: What will oil and gas production and price volatility look like in the short- and medium-term? What is the role of the US Strategic Petroleum Reserve in terms of energy security concerns in the oil market today? Why hasn't the US experienced a significant economic benefit from low oil prices? Has the alleged “golden age of gas” been stalled and does it make sense to consider natural gas as a bridge toward a cleaner energy system? How does EIA incorporate technological innovation and changing cost structures in its projections? How important is policy – e.g. the Clean Power Plan — to the outlook of the US energy mix compared to market fundamentals? What are the key highlights of EIA’s International Energy Outlook 2016? And many more. This podcast was originally recorded on June 9, 2016.
Nader Sultan, former CEO of Kuwait Petroleum Corporation, on GCC Countries and the New Oil Landscape (6/28/16)
Since the 1930’s when oil was first discovered in Saudi Arabia and Kuwait, the countries that make up the Gulf Cooperation Council (GCC) -- Kuwait, Saudi Arabia, the United Arab Emirates, Qatar, Oman, and Bahrain -- have been key players in the global oil market. While their vast endowment of oil resources has enhanced the region's economic and geopolitical importance, it has also linked its fate to the cycle of oil prices. The rapid pace of change in the energy sector today, from the rise of US shale and the historic collapse in oil prices to the growing international commitment to address climate change, poses key challenges for the GCC. How the countries deal with these issues will have profound implications for them and the world as a whole. On this episode of Columbia Energy Exchange, Jason Bordoff, the director of the Center on Global Energy Policy, sat down with Nader Sultan, the former CEO of Kuwait Petroleum Corporation, who is now a Senior Partner in the company F&N Consultancy as well as the Director of the Oxford Energy Seminar. The discussion touched on a range of topics, including: How are GCC countries adapting to the lower oil price environment? What are the implications of Saudi Arabia's ambitious National Transformation Program? How has the Paris climate agreement affected GCC business plans and long-term energy strategies? Does OPEC still matter for the world in terms of oil production decisions? Is Saudi Arabia still a swing producer? How do geopolitics weigh on OPEC relations and decisions, especially given the tensions between Iran and Saudi Arabia? This conversation was originally recorded on June 14, 2016.
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