Many energy observers predict that new climate policies in the U.S. and around the world will drive global oil demand significantly lower in the near future. But what if long-term, structural forces already at work threaten future oil demand even without new climate policies?
A recently published paper shows how the world has consistently, for many decades, needed less oil to produce a given level of economic output — a measure known as “oil intensity.”
What drives this unusually stable improvement in oil intensity? With so much uncertainty around policy and technology, can the long-term historical relationship between gross domestic product and oil be sustained? And what can it tell us about future oil demand prospects?
At this webinar, Mark Finley, fellow in energy and global oil at the Baker Institute Center for Energy Studies, held a virtual conversation with one of the paper’s authors, Christof Rühl of the Harvard Kennedy School and Columbia University. Finley also led a moderated discussion with Sarah Emerson, president of ESAI Energy, and Dean Foreman, chief economist of the American Petroleum Institute. The discussion was followed by a Q&A session with the audience.
10:00 a.m. — Presentation & moderated discussion
10:45 a.m. — Q&A
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Senior Research Scholar, Center on Global Energy Policy, Columbia University SIPA; Senior Fellow, Mossavar-Rahmani Center for Business and Government, Harvard Kennedy School
President, ESAI Energy
Dean Foreman, Ph.D.
Chief Economist, American Petroleum Institute
Fellow in Energy and Global Oil, Center for Energy Studies, Baker Institute