Energy Markets and Security During the Global Recovery
A year and a half into the global pandemic, an economic recovery appears in sight for the industrialized world. Europe and North America are advancing their inoculation campaigns and lifting societal restrictions. Most of the developing world remains vulnerable to new outbreaks and further economic shocks. Sustained investment in renewables and electric cars has pushed the value of rare earths, copper and lithium to record heights. Oil demand and CO2 emissions are recovering fast and expected to surpass their pre-pandemic levels by the end of the year. During the pandemic, some of the world's biggest emitters made ambitious climate pledges and committed to zero-net targets. Will the EU, Japan, US and China take the necessary steps to decarbonize amidst buoyant industrial activity and consumer spending in the recovery period? And will they put in place the right policy incentives and finance instruments to stimulate investment in clean tech and mitigate the effects on society and industry? These various powerful and opposing forces have brought energy security to the forefront of the political debate.
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