The Covid-19 Pandemic and Global Energy Dynamics

The Covid-19 Pandemic and Global Energy Dynamics

06.07.2020 15:00 - 06.07.2020 16:00
online
Postato da Amministrazione
Categorie: Energia, Webinar e Corsi
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According to most analysts, the COVID-19 crisis is a “trend accelerator”, which is speeding up processes that were already ongoing before its inception. In the hydrocarbon sector, its effect has been to reduce the main producers’ influence on the oil market and expedite the surge of a new period dominated by low prices and demand shocks. Notwithstanding recent efforts to mitigate these developments and restore pre-crisis levels of consumption, price recovery is expected to be extremely gradual, due to both renewed trade tensions between the U.S. and China and large hydrocarbon stocks coming from recent overproduction. The resulting loss of confidence by investors and energy companies makes it more difficult to identify medium and long-term objectives for the oil industry. At the same time, this trend intertwines with a surge in the use of renewables, made possible by technological advances and falling costs. Combined with a growing sensitivity of the international community to climate change, this could prompt an irreversible momentum for a global energy transformation. Understanding the effects of such a paradigmatic transformation on the global power distribution and on relations between states, is crucial to draw scenarios for the post-COVID-19 future of global politics and the economy.

Panel Discussion

Chair

Matteo Villa, Research Fellow, ISPI

Sadad Ibrahim Al Husseini, President, Husseini Energy WLL, Saudi Arabia

Francesco La Camera, Director General, International Renewable Energy Agency (IRENA)

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