The Center on Global Energy Policy hosted a presentation and discussion of the 2015 edition of the BP Energy Outlook 2035 with BP Group Chief Economist Spencer Dale. The BP Energy Outlook attempts to describe the "most likely" trajectory of the global energy system based upon assumptions around economic and population growth as well as developments in policy and technology. Questions addressed included:
- Which fuels will gain and lose global market share?
- What is the outlook for US tight oil and shale gas supply, and what will the US energy renaissance of recent years mean for global markets into the future?
- What changes are likely for China (the worlds biggest energy consumer)?
- What are the implications for CO2 emissions?
- And, with the oil price in the spotlight, what are the forces that will influence energy prices over the decades to come?
Center Director Jason Bordoff moderated a discussion following the presentation.
Spencer Dale is group chief economist of BP plc. He manages BP's global economics team, providing economic input into the firm's commercial decisions. BP's economics team also produces the annual Statistical Review of World Energy and Global Energy Outlook.
Spencer Dale joined BP as group chief economist in October 2014. Prior to that, he was executive director for financial stability at the Bank of England and a member of the Financial Policy Committee. Between 2008 and 2014, Spencer was chief economist of the Bank of England and a member of the Monetary Policy Committee. Spencer joined the Bank of England in 1989 and served in numerous roles, including private secretary to Mervyn King and head of economic forecasting. Spencer served as a senior advisor to the U.S. Federal Reserve Board of Governors between 2006 and 2008.