IEA

The world energy market now revolves around China. So does the climate change debate and any attempt to reduce emissions. According to the latest figures from the BP Statistical Review, the growth in China’s energy consumption last year amounted to more than the total annual consumption of the UK. Then there is a corporate dimension to China’s growing role in the global energy market. The Chinese are using their current economic strength to buy into European energy companies. How should Europe respond to all this? Read more

Images provided by NASA

Evidence from the American space agency NASA published at the end of July shows the remarkable and disturbing degree to which Greenland’s ice cap has melted.  Taken in combination with extreme weather conditions in the US and Asia over the last few months, what is happening in Greenland raises again the unresolved issue of climate change and what should be done to mitigate the associated risks.  But the traditional approach of gradually reducing emissions by changing the energy mix may no longer be a viable option. Read more

The new paper from the Belfer Center at Harvard on the prospect of sharply rising oil production over the next decade is a substantial and interesting piece of work.   The headlines, however, oversell the content.  America isn’t about to be self-sufficient in oil or to start exporting a surplus.  Around the world there is indeed plenty of oil but politics are likely to keep production well below the physical potential.

The report “Oil: The Next Revolution” by Leonardo Maugeri, is based on a detailed field by field analysis of the world’s oil resources. Read more