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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.
The energy transition is transforming how we power our world – clean energy systems are becoming more interconnected, automated, and reliant on digital infrastructure. But with this transformation...
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.
Rising electricity demand. Heightened geopolitical tension. Fragility in energy markets. These are some of the big stories shaping the energy transition outlined in the International Energy Agency’s newest...
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...
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.
The mining sector continues to face headwinds in attracting the necessary investments to meet the growing demand for critical minerals in clean energy technologies.