Energy markets in turmoil
Episode Transcript
Episode transcript coming soon.
John Kemp is senior market analyst at Reuters, where he specializes in oil and energy systems. Having covered these systems for the past quarter-century, John now publishes a newsletter, which happens to be Cardiff's favorite way to keep up with trends in global energy markets.
This episode, recorded on the morning of Monday, February 28th, does touch on the astonishing and fast-moving events in Ukraine and Russia, but it is not principally about them. Nor is it mainly about the economic sanctions against Russia by the US and Europe, or their likely effects. The episode is about the latest trends and possible futures for the markets in oil, gas, renewable technologies, and other parts of the energy landscape.
But the chat also couldn’t avoid talking about geopolitical events like what’s happening with Russia and Ukraine, because one of the themes of this episode is how energy markets have increasingly globalized in recent decades. What’s happening in Russia has big effects on what’s happening in Europe, which itself has a big effect on what’s happening in American energy markets. And what happens in East Asia, in Africa, and Latin America – especially in developing nations in those regions – also affects energy markets everywhere else.
John and Cardiff also discuss:
Why John is “pro energy but source agnostic”
The slow response of frackers to high oil prices
The recent behavior of OPEC countries
The responsibilities of advanced economies to developing nations
Why you should read more about the UK coal industry from the 1300s to the 1700s
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