E3G State of Climate Politics 2024 / 5 - Panel: Geopolitics of the Oil Transition

Recording 5 from the inaugural E3G State of Climate Politics Forum, held on the 25th June 2024 as part of London Climate Action Week.
Panel: Geopolitics of the Oil Transition
Maria Pastukhova, Programme Lead, Global Energy Transition, E3G
Glada Lahn, Senior Research Fellow, Chatham House
Tim Gould, Chief Energy Economist, IEA
Tomas Anker Christensen, Climate Ambassador, Denmark
The panel explores the shifting landscape of oil suppliers, with OPEC increasingly under pressure from Atlantic oil. At the same time, the future of oil producing countries is uncertain as global oil demand nears its peak - an economic trend now underpinned by the global ambition to transition away from fossil fuels, as agreed by nearly 200 countries last year at COP28 in Dubai. We unpack the ongoing trends in oil production and demand and discuss economic and security implications of the shifting landscape. The coming peak and subsequent decline of oil demand will reshape international alliances and security pacts. Whose oil will serve a shrinking market? Who will be left behind? What are the implications as oil producing countries struggle to navigate increasingly volatile markets and replace their dependency on fossil fuel rents, both for domestic and regional stability?
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