The US is shifting its energy policy – what are the implications?
Date: October 19th
Time: 14:00 – 16:30
Venue: Spårvagnshallarna, Birger Jarlsgatan 57 A, Stockholm
The seminar is free of charge and will be held in English
N.B. Changes to the list of speakers. David Robinson is unable to attend, instead Ulrika Raab from the Swedish Energy Agency will speak on the same subject.
The Trump administration has proclaimed that it wants the US to be energy dominant, which goes beyond the previous ambitions of energy independence. The President has forecast a "golden era" for American energy that would be asserted through the country's booming production of natural gas, oil and coal. In another important policy shift the President has announced that the US will withdraw from the Paris climate accord.
The production of shale gas and tight oil in the US is on the rise and some of the larger oil companies are increasing their investments onshore. Production of shale gas and tight oil is relatively responsive to price movements, which gives America the potential to be a market based swing producer.
The US government's intention to withdraw from international climate cooperation appears to have rather increased the commitment to stay the course from other important players, e.g. China and the EU. At home, the new US administration is set to remove obstacles to produce fossil fuels. But there are many, also domestically, who challenge this policy: states, regional and local authorities, corporations and others. Is the development towards a more sustainable energy system in fact, unstoppable?
At the next NOG seminar, we will examine how the development of American production of oil and gas, and the shift in US energy policy, may impact energy markets, geopolitical relations and the ambitions to combat climate change in the longer perspective. We will further discuss how reduced imports of crude oil to the US and an increase of petroleum and LNG exports may affect the international markets and OPEC's room to maneuver.
Former American diplomat Matthew Bryza will give us an introduction to American geopolitical relations and how these may change with the new US administration, in lights of the new energy policy. From Nordea we welcome Thina Saltvedt and from the Swedish Energy Agency we welcome Ulrika Raab, to give us the insights on implications of a new US energy policy with regards to energy markets and global climate action.