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CERAWeek: Monday – Day 1: Tipping Point: Strategies for a new energy future

By Todd Peterson

Petroleumworld 03 06 2018

Monday – Day 1

“CERAWeek by IHS Markit ” officially starts with a general look at the global industry and the “Tipping Points” that will change the way we go forward.

Daniel Yergin opened the conference with an introduction of North America’s Energy Infrastructure. We heard from politicians from Alaska that have been major suppliers of crude oil to the US and LNG to Japan and have the potential to further impact world markets as they develop their large reserves. This session also showed the importance of a pipeline system that connects supply to the markets.

The conference continued with a description of global hotspots such as North Korea, Iran, the middle east, Russia among others. The main question coming out of this session was that with all this trouble around the world why was the price of oil so low?

As the day progressed we heard from Total which among other things is convinced of the future of electric cars. Others talked about investment and the need for innovation.

Major projects around the world will need a close working relationship between the public sector and private investors. For this to work there needs to be a trust among private and public sectors. That trust starts first with stable governments, clear regulations and enforceable laws in place before the private sector will invest.

Companies like Dow Chemical Co. and ABB feel that Artificial Intelligence (AI) are changing the world. That companies need to change the way they hire, train & retrain employees because technology is changing so quickly.

In another session we heard about the growth in demand for natural gas and LNG. Natural gas will continue to be the bridge fuel to renewables. LNG will be the best way to deliver gas over long distances were pipelines do not work.

There was also discussion about the tri national trade agreement called NAFTA. Jose Antonio Gonzalez Anaya, Finance Minister of Mexico was in the hot seat for an opinion on the outcome. He defended the agreement and how it has helped develop Mexico and its partners up to now. Before the fire alarm went off and everybody had to clear the building all the panel members were asked if trade wars are good and all agreed NO.
A good way to end day 1.

Story Todd Peterson special correspondent from Petroleumworld /
03 05 2018

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