FUTURE OF OIL & GAS

Designing a future interdisciplinary and shared research agenda to understand the role of oil and gas in the energy transition

Designing a future interdisciplinary and shared research agenda to understand the role of oil and gas in the energy transition

As the world confronts an energy transition, the global energy system is being re-imagined and the role of oil and natural gas in that transition is not entirely clear. Governments are pursuing increasingly ambitious initiatives to reduce greenhouse gas emissions and diversify their energy systems. At the same time, the world is facing significant energy demand growth from emerging and developing economies. The dual pressures of reducing their carbon footprint, while also providing the necessary resources to fuel energy growth creates another layer of complexity for the oil and gas industry.

Mines and the world

The Payne Institute extends to public policy Mines’ conviction that energy and the environment must– and can – fruitfully coexist. We are in an enviable position to tap into a deep well of on-campus and alumni leaders in industry and environmental groups around the world. We foster collaboration with a focus on problem-solving rather than furthering entrenched agendas.

COLORADO

Colorado has been at the forefront of establishing regulations for the oil and gas industry and working in a coherent inclusive manner between the industry and other stakeholders. That form of broad engagement based on science should continue. It will serve to both evolve the discussion in the state and at the local level, but also serve as a lodestar for the national and global discussion.

NEWS

Are We Running Out of Natural Gas Storage? 9/23/2020

Are We Running Out of Natural Gas Storage?

Payne Institute Senior Research Associate Greer Gosnell writes a commentary on how the US burned the most natural gas for electricity in its history this summer, but current month-to-month natural gas price spreads suggest we may be running low on natural gas storage.  September 23, 2020. 

It’s time for states that grew rich from oil, gas and coal to figure out what’s next 9/23/2020

It’s time for states that grew rich from oil, gas and coal to figure out what’s next

Payne Institute Fellow Brad Handler, Matt Henry, and Morgan Bazilian write about the very challenging times for U.S. fossil fuel-producing states, such as Wyoming, Alaska and North Dakota. The COVID-19 economic downturn has reduced energy demand, with uncertain prospects for the extent of its recovery. Meanwhile, rising concern about climate change and the declining cost of renewable energy are precipitating a sharp decline in demand for coal in particular.  September 23, 2020. 

11 WAYS TO MEASURE CLEAN GROWTH

11 WAYS TO MEASURE CLEAN GROWTH

Payne Institute Senior Research Associate Sara Hastings-Simon contributes to this report from the Canadian Institute for Climate Choices that highlights the multiple facets of clean growth by unpacking the connections between economic growth, climate change, and human well-being. We identify 11 data-driven indicators that, together, can guide efforts by governments, businesses, and communities to not only tackle climate change but to do so in a way that achieves sustained growth and the best overall outcomes for people and society as a whole.  September 22, 2020.  

Colorado School of Mines launches Integrated Carbon Capture, Utilization and Storage Initiative 9/18/2020

Colorado School of Mines launches Integrated Carbon Capture, Utilization and Storage Initiative

Led by the Payne Institute for Public Policy and the Mines’ Office of Global Initiatives, the Integrated CCUS initiative will be interdisciplinary across Mines departments.  Global interest in carbon capture, utilization and storage is unprecedented as one of the key strategies for addressing climate change. The need for detailed scientific and engineering research, coupled with cross-cutting work on policy, markets and regulation of the technology is equally critical.  September 18, 2020.

BP Releases Energy Outlook 9/14/2020

BP Releases Energy Outlook

Payne Institute Fellow Michael Cohen, Chief U.S. Economist and Head of Oil Analysis at BP, produced the Energy Outlook that explores the forces shaping the global energy transition out to 2050 and the key uncertainties surrounding that transition. The global energy system is likely to undergo a fundamental restructuring in order to decarbonize, which will create challenges and opportunities for the industry. Three main scenarios – Rapid, Net Zero, and Business-as-usual – provide a range of possible outcomes to understand the range of uncertainties ahead.  September 14, 2020. 

Why Canada’s geothermal industry is finally gaining ground 9/12/2020

Why Canada’s geothermal industry is finally gaining ground

Payne Institute Senior Research Associate Sara Hastings-Simon contributes to this article about how the heat from below the Earth’s surface has provided a reliable source of electricity for decades in many countries — but not Canada. Now, several projects underway in western provinces could herald a new era for this untapped resource and offer job opportunities for former oil and gas workers.  September 12, 2020.  

Country Spotlight: Gas Flaring in India 9/3/2020

Country Spotlight: Gas Flaring in India

The Payne Institute looks at the gas flaring in India.  According to the IEA, India is the fourth largest refiner of oil (behind the US, Russia, and China), and the third largest importer of crude oil and LNG (behind China and the US), though is outranked by 24 other countries on oil production, with declining trends.  September 3, 2020. 

CSIS Energy 360° Podcast – Getting to Reliable Electricity Access 8/31/2020

Energy 360° Podcast – Getting to Reliable Electricity Access

Payne Institute Advisory Board Member Sarah Ladislaw and the Center for Strategic and International Studies (CSIS) host Morgan Bazilian for a podcast to discuss energy access globally and some of the metrics used to measure access. The Payne Institute recently released ‘Measuring “Reasonably Reliable” Access to Electricity Services,’ which provides an in-depth view of the gaps in global electricity access and how quality of access matters as much as quantity.  August 31, 2020.

The oil-sands fundamentals are dire and stark – and Canada shouldn’t spend to revive a dying dream 8/29/2020

The oil-sands fundamentals are dire and stark – and Canada shouldn’t spend to revive a dying dream

Payne Institute Senior Research Associate Sara Hastings-Simon, David Keith, and Ed Whittingham write an opinion piece on Alberta’s potential move to build a greener industry with a major public investment in decarbonizing oil production. There is widespread support for this approach. After all, many of Alberta’s oil producers are in the high-cost, high-carbon quadrant, and for them to follow the world in moving to low-carbon energy, the public needs to help with the Herculean adjustment effort. August 29, 2020. 

Alberta’s deficit is set to reach historic levels. A collapse in oil revenue is a big reason why 8/27/2020

ALBERTA’S  DEFICIT IS SET TO REACH HISTORIC LEVELS.  A COLLAPSE IN OIL REVENUE IS A BIG REASON WHY

Payne Institute Senior Research Associate Sara Hastings-Simon contributes to this article about how resource revenue is expected to fall to levels not seen since the 1970s as Jason Kenney’s UCP government announces deficit projections $16.8 billion higher than previously forecast. August 27, 2020.

For more information about the Future of Oil & Gas Initiative at the Payne Institute for Public Policy, please contact our Strategy and Operations Manager, Gregory Clough, at gclough@mines.edu.