Energy Stability or a False Sense of Security?
Report

Energy Stability or a False Sense of Security?

How Changes in Geopolitics, Political Economy, and Markets Alter the Energy Landscape

Brookings Doha Energy Forum
Brookings Institution, 2015
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Editorial Rating

8

Recommendation

The Brookings Institution convened a group of world-class experts in March 2015 to assess current global energy markets. Their judgments rest on the old truism that the only constant is change. The sweeping development of shale resources adds supply to a market in which overall demand is declining, and geopolitical tensions threaten energy and social stability. Due to the growth of alternative energy sources, stricter ecological controls and shifting power plays, the long-term outlook is as uncertain as it has ever been. Though this authoritative report raises more questions than answers, getAbstract recommends it to anyone interested in global energy’s big picture.

Summary

Growth in shale oil and gas production, a mutable political picture in the Middle East, and declining energy demand coupled with falling oil prices are roiling global energy markets. Demand has moderated in crucial economies such as China’s since the 2008 crisis. Meanwhile, “global inventories of crude oil are at record highs”: An additional 2.9 million barrels per day (b/d) stockpiled for emergencies, along with Iran’s stored 30 million b/d and production capacity of 500,000 b/d to 800,000 b/d, point to continued price cuts. Alternative energy sources are becoming cheaper to exploit...

About the Author

The Brookings Doha Energy Forum convenes annually to assess trends and risks in the energy industry.

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