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At a recent event hosted by the Hudson Institute, energy professionals gathered to discuss energy issues affecting both the United States and China, with significant discussion centering on how low oil prices generally correlate with economic prosperity and stability – and vice versa. It is projected that China’s oil import dependence will rise from 60% in 2013 to 75% in 2035 and that, in the next 15 years, China will overtake the U.S. as the world’s largest oil consumer. Like the U.S., China’s sustained economic growth is directly influenced by the price of oil. Although crude oil price spikes are… [more]
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Vice President, US Retail Regulatory Strategy
National Grid, US
We hear about the promise of transforming America’s infrastructure every day. But if we’re going to capitalize on that promise, we need to reverse the 20-year trend of underinvestment in energy networks. Greater overall resiliency, reliability and innovation come with a sizeable price tag; it is estimated that U.S. energy infrastructure needs $2.5 trillion in investment by 2035. If we don’t meet this challenge, the growing limitations of our current system threaten to derail progress toward our long-term energy sustainability and security goals. We either invest now, or pay that much more later. To secure the necessary funding for energy infrastructure… [more]
View InsightIn a recent research note, Swiss bank UBS AG expressed uncertainty about the economic impacts of surging U.S. oil and gas production. While the domestic energy boom is widely thought of as an unequivocal economic driver, UBS analysts suggest that it may not be that straightforward. [E&E News (Sub. Req’d.)] If the current U.S. oil and gas boom – which is driving domestic supply up and prices down – is sustained, UBS projects, it could spur marginal economic growth of around 0.8% annually over the next five years. However, increased U.S. oil supply would reduce the need for imported oil,… [more]
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