In an interview with Randolph Bell, director of the Atlantic Council Global Energy Center, Musabbeh Al Kaabi, chief executive officer for petroleum and petrochemicals at the UAE’s Mubadala discussed the future of oil demand, changes underway in the global energy market, and Mubadala’s forward-looking strategy for energy innovation.
Q: What is your view on the future of oil demand, and how do you manage uncertainty in oil demand?
In a recent visit to their office in a Dallas, Texas technology park, the Global Energy Center’s Ellen Scholl discussed the future of solar with Arun Gupta, CEO and founder of Skyven Technologies, a solar technology startup focused on using new technology to improve the efficiency of solar panels.
The following is an excerpt of their interview.
In short, the energy system is transitioning from one based on large, centralized conventional power plants, to one that includes both conventional power plants and new emerging technologies that are either centrally located or distributed throughout the network, to serve local electricity demand.
The Issue: In December 2018, countries will meet in Katowice, Poland for the 24th Conference of the Parties to assess progress towards their commitments under the Paris Agreement. In advance of that meeting, Latin American countries have made impressive—if uneven—strides toward their climate goals, but serious challenges remain in many countries.
Kentucky has been hit hard by recent trends in energy markets, particularly the downturn in the fortunes of coal. Beyond the trends, it has also been deprived of some of the positive policy architectures that helped to buttress San Joaquin Valley.
From a purely market perspective, the Croatian terminal is a classic case of redundant infrastructure. However, from a security of supply perspective, it is absolutely vital.
The State Department press release is available here, and the full event webcast is available here.
While the discussion was wide-ranging, there were four key takeaways worth highlighting:
Despite assumptions that California is an affluent and prosperous state, a comprehensive assessment of various US congressional districts on metrics of health, education, and income in 2008 placed the San Joaquin area’s 20th congressional district as the worst performer in the United States. In 2010, the San Joaquin Valley earned the moniker “Appalachia of the West.”
Creation of a natural gas hub is perceived in international quarters as a way of meeting national goals for competitive natural gas supply and delivery, providing market prices adequate to inform producers and consumers, and creating a security of supply based on diversification of sources.
The Issue: Oil and fuel theft in the maritime space constitutes billions of dollars of losses annually for governments and billions of dollars in criminal profits for corrupt individuals, reckless companies, transnational criminal organizations and terrorist groups.