OIES Podcast – Key Themes for the Global Energy Economy in 2023

In this latest OIES podcast David Ledesma talks to Michal Meidan and James Henderson about a forthcoming OIES research paper on the Key Themes for the Global Energy Economy in 2023. The overarching theme is the rebalancing of the energy trilemma, with energy security taking a more prominent position alongside affordability, while sustainability is a lower priority in the short-term. This is particularly evident in Europe, where the search for hydrocarbons to replace imports from Russia will continue to be prevalent in 2023, but the report also highlights that the rebalancing means different things in different regions of the world, with articles on China, India and Africa emphasizing this. However, 2023 will also be a vital year for continuing to pursue the energy transition agenda ahead of COP28, with electricity market design, the future of nuclear energy, the operationalisation of voluntary carbon markets, the development of GHG emissions standards and further work on climate finance issues all being priorities. In addition, the global stocktake will establish whether the world is on target to meet its climate pledges and could reopen the debate between the Global South and the Global North on responsibility and loss and damage payments. Meanwhile the outlook for short-term oil and gas market supply and demand remains critical as high prices continue to weigh on the global economy. The podcast provides highlights of all these issues as a taster of the Key Themes for 2023 paper that is published in mid-January 2023.