Disrupted Energy Markets: Fossil Revival or Renewable Opportunity?
As Russia’s invasion of Ukraine and other economic pressures disrupt global energy markets, even insiders are scrambling to make sense of this moment. Is this when fossil fuels strike back or when renewables surge to gain market share? Or can both be true in different ways and time frames?
The Biden administration has signaled it wants more oil and gas now to ease pain at the pump ahead of the upcoming midterm elections, while also maintaining its support of cutting carbon emissions. Is that good politics or good policy? What does that mean for leasing on federal lands, offshore drilling, and support of new infrastructure that would be in operation for decades? Windfall profit taxes, electric vehicle subsidies, energy tax incentives and other policies are also being buffeted by turmoil that rivals the 1973 oil shock that remade America’s energy landscape in major ways.
Join us for a conversation about U.S. energy markets and policies with views from inside and outside the Biden administration.
The Commonwealth Club of California
Partner, Rhodium Group
David M. Turk
Deputy Secretary, U.S. Department of Energy
Director, Global Climate Strategy, Sunrise Project
Founder and Host, Climate One