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For the past 68 years, BP has published its Annual Statistical Review of World Energy, an impressive collection of global energy data that offers a retrospective view of what has happened in the world of energy production, consumption, trade, and related issues.
This week, host Jason Bordoff is joined by Spencer Dale, BP’s Chief Economist. He is responsible for advising BP’s board and executive team, and manages BP’s global economics team, providing economic input into the firm’s commercial decisions.
Jason and Spencer discuss trends, key findings and insights from this year’s report, including the fact that as global energy consumption grew rapidly in 2018, carbon emissions rose at their highest rate in seven years. Jason and Spencer discuss the mismatch between growing calls to act on climate change, growing energy demand, and increasing global carbon emissions. They discuss the unique double-firsts in the U.S. last year, recording the single largest-ever annual increases by any country in both oil and gas production. They discuss how an unusually large number of hot and cold days in the U.S., China and Russia drove strong growth in energy consumption in 2018, and the importance of decarbonizing the power sector to meet our global climate goals. They also discussed BP’s role in fighting climate change.
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The clean energy transition has a dirty underside. To move away from fossil fuels and toward solar, wind, batteries, and other alternative sources of energy, we have to intensify mining operations for critical minerals like lithium, copper, and cobalt.
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In passing and signing the Inflation Reduction Act in 2022, Congress and the Biden administration infused hundreds of billions of dollars into the energy transition. It was the...
CGEP is pleased to announce a new AI & Energy series—part of our Energy Explained blog. In the first entry, the authors write about AI's potential impacts on the...
Kenya and South Africa have recently started moving toward an open access regime in their electricity sectors, while the US and India have been on this path for over two decades.
This commentary addresses the importance of Indonesian nickel supply to US climate goals, and why a US-Indonesia critical minerals agreement could be beneficial for both countries.