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Riding the Energy Transition
Report

Riding the Energy Transition

Oil Beyond 2040

Reda Cherif, Fuad Hasanov and Aditya Pande
IMF, 2017
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Editorial Rating

8

Qualities

  • Analytical
  • Eye Opening
  • Visionary

Recommendation

The end may be in sight for oil, and the return of the electric car could hasten that demise. Just as oil displaced wood and coal in the 19th and 20th centuries, so could a demand-driven shift toward renewable energy render oil the “new coal.” Economists Reda Cherif, Fuad Hasanov and Aditya Pande cover the burgeoning developments in technology, natural resources and transportation that will determine the world’s energy future. getAbstract recommends this accessible and thought-provoking overview to leaders in industry and government.

Take-Aways

  • Widespread use of the electric car could herald a major shift away from oil consumption in the not-too-distant future.
  • Advances in technology have slashed the production costs of wind power, photovoltaics and batteries by at least half since the mid-2000s.
  • Nations that import oil would benefit from lower fuel prices but face challenges in redesigning tax policy if their economies depended on revenues from gasoline taxes.

About the Authors

Reda Cherif, Fuad Hasanov and Aditya Pande are economists at the IMF.

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