A ‘Permanent Reset’ in Oil?

Destruction. Dislocation. Collapse. A permanent reset. Read any news about oil markets, and these are the vivid descriptions you’ll encounter. We are now deep into an historic pause for oil demand across the globe -- shutting down oil fields, causing negative pricing, overwhelming our storage abilities, and forcing up to a million job losses this year. "We are looking at a major demand destruction that we don't even know will come back," said Shell’s CEO Ben van Beurden on a recent investor call. So if demand doesn’t come back, what happens? What are the direct consequences to the oil industry? And what are the opportunities for a “new energy order,” as the World Economic Forum is now calling it? This week, Stephen and Shayle talk with Ed Crooks, vice chair for the Americas at GTM’s parent company Wood Mackenzie. Ed is a former editor at the Financial Times. He’s one of the go-to people watching oil market dynamics and how they intersect with the clean energy transition. We had so many listeners write in during our live show about what’s unfolding in oil markets. So we’re going to try to tackle them. The Interchange is brought to you by Prisma Energy Solutions. Prisma Energy Solutions provides a unique financing model for battery energy storage systems that can help you reduce energy demand, participate in both energy and ancillary service markets, improve renewables integration, increase system reliability, and reduce your carbon footprint. 

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Clean tech, green finance and energy innovation are the three lanes on the road to a successful global energy transition. At the intersection of these lanes is a place where ideas on finance, technology and policy are shared and debated. That intersection is Interchange Recharged.  Sylvia Leyva Martinez, principal analyst at Wood Mackenzie, invites visionaries, entrepreneurs, policy-makers and energy analysts to explore the newest developments in renewable technology, explain the ideas on global energy policy that could accelerate the energy transition, and identify new funding and financial models that could solve the biggest challenges we face on the way to net zero.  Sylvia and her guests bring you data and forecasts on clean technology, climate science, and offer predictions on the build out of utility-scale projects and the future of green finance. What impacts do the annual UN Conference of the Parties have on decarbonisation goals and climate change? What will COP30 bring? What’s happening in global EV adoption and development? What’s the forecast for solar energy, one of the major success stories of renewable energy in the last ten years? What does the data tell us about the future of hydrogen, of nuclear, or of low-carbon power?  These are examples of the insights and detailed analyses you can expect bi-weekly on Tuesdays at 7am ET.  If you like The Energy Transition Show, Catalyst with Shayle Kann, The Big Switch from Columbia University, Open Circuit with Stephen Lacey or The Green Blueprint, you’ll enjoy Interchange Recharged.  Want to get involved with the show? Reach out to podcasts@woodmac.com to: Bring Sylvia and Interchange Recharged to your event Be a guest on the show  Sponsor an episode Ask a question to Sylvia or one of our guests  Check out another leading clean tech global podcast by Wood Mackenzie, Energy Gang, at woodmac.com/podcasts/the-energy-gang Wood Mackenzie is the leading global data and analytics solutions provider for renewables, energy and natural resources. Learn more about Wood Mackenzie on the official website: https://www.woodmac.com/