The energy quiz

Have we hit the end of the ‘fossil era’?

Yes, because renewable energy (wind and solar) is growing at a stunning pace

Not yet: over the coming decades we will see more renewables but fossil fuels will remain important in the mix

The world’s reliance on fossil fuels isn’t changing any time soon.

What is the latest on global CO2 emissions?

CO2 emissions stalled in 2015 for the second year in a row as renewable energy surged

CO2 emissions increased in 2015 headed by the largest emitters China and the US

CO2 emissions decreased in spite of increasing emissions in Asian developing economies and the Middle East, and also a moderate increase in Europe.

What is the latest on the oil price?

Crude oil markets still suffering from oversupply

Saudi Arabia and Russia are planning a freeze on their production output

Still low as Saudi Arabia wants to maintain market share no matter what

Do low oil prices pose a threat to energy security in the short term?

No, as oil will become a stranded economic asset due to the surge in renewable energy

Yes, as investment sinks in the sector, putting the world increasingly at the mercy of the geopolitically less stable Middle East for supplies

No, because the US tight (shale) oil production will take over the role of swing producer from OPEC

Regional gas markets become more and more Global markets, due to:

The US shale-gas revolution

The booming LNG markets (Qatar, Australia etc)

Converging regional gas prices due to low Asian demand and collapsing LNG prices

The global natural gas production growth between 2015- 2020, will be dominated by:

US, Canada and Australia

Russia

Middle East and China

Unlock and Upgrade