former Special Envoy & Coordinator for International Energy Affairs at U.S. State Department
The geopolitics of energy is playing a growing role in American foreign policy. As the United States ushers in a new president who has signaled a sharp shift in approach to energy and the environment, the new Administration must examine how these changes will impact relations with the rest of the world. Host Jason Bordoff speaks with Carlos Pascual, a non-resident Fellow at the Center on Global Energy Policy and Senior Vice President at IHS, about the role of geopolitics and foreign policy priorities for the new Administration. Prior to his current position, Carlos served as U.S. Ambassador in Mexico and Ukraine, as the State Department’s Special Envoy and Coordinator for International Energy Affairs where he established and directed the Energy Resources Bureau and as senior advisor to the Secretary of State on global energy diplomacy. They discuss: Energy and foreign policy priorities and challenges for the new president including Russia, the Middle East and Asia; the link between energy, international security and international development; how the reduction of hydrocarbon demand as a result of climate change initiatives will influence geopolitics.
It has now been just over a year since the US signed into law the Inflation Reduction Act and already, it has been followed by more than US $110 billion in clean energy investments.
Rising debt levels and the ravages wrought by climate change present acute threats to achieving sustainable development goals in emerging market and developing economies.
As the world races to transition to cleaner energy sources, there exists a substantial gap between the financing required for this transition and the actual investments being made.