Panel Discussion |Coal India Ltd.’s Journey and Coal’s Future, with Partha Sarathi Bhattacharyya, author of “When Coal Turned Gold”
Economic diversification in the GCC: Past lessons and new challenges
The new dynamics of global energy and climate: A conversation with IEA Executive Director Fatih Birol
Dollar-denominated oil survived three years of rock-bottom prices and diverging economic fortunes between the United States and the producing countries. It is unlikely to change now that the industry is more flush with cash.
[On economic diversification in oil-producing countries] That was in large part because of the realization that they can no longer depend on oil. Tangentially, the liberalization taking place—such as allowing women to drive—is part of the same trend.
[On impacts of higher oil prices] During periods of price rises in the past, there has been a shift to more fuel-efficient vehicles. That is likely to occur again. However, there remains a price premium for electric vehicles; overcoming this up-front cost, range anxiety and concern about charging infrastructure will be necessary for EVs to take off.
The Trump administration wants low gasoline prices for political reasons, but also wants to maximize the effect on Iran of the re-imposition of sanctions. President Trump is trying to have it both ways.... But the administration will find that actions that pull crude oil away from a tight market have ramifications at home, despite the U.S. emergence as a powerhouse of crude oil production.