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Climate One

COVID-19 and Climate: The Future of Energy

Climate One

Climate One

News, News Commentary, Science, Earth Sciences, Social Sciences

4.7583 Ratings

🗓️ 22 May 2020

⏱️ 52 minutes

🧾️ Download transcript

Summary

After decades of relying on imported oil, the U.S. achieved the unthinkable and became the world’s largest producer. Production has doubled over the past decade, and in February reached its highest level ever - thirteen million barrels a day. But as it turns out, all of that overabundance has led to a different kind of oil crisis. “We’re producing more oil and gas than ever,and this industry’s stocks are tanking,” says Amy Harder, energy reporter for Axios. Meanwhile, renewables are experiencing unprecedented growth. What will be the lasting impact of the COVID-19 recession? What is the future of energy in a post-pandemic world? Visit climateone.org/watch-and-listen/podcasts for more information on today's episode. Guests: Amy Harder, Energy Reporter, Axios Jason Bordoff, Founding Director, Center on Global Energy Policy, Columbia University Scott Jacobs, CEO and Co-founder, Generate Capital Julia Pyper, Host and Producer, Political Climate Podcast Additional interview: Chris Rawlings, founder of Veteran L.E.D. This program was recorded via video on May 6, 2020. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

How with the COVID-19 crisis shaped the future of energy?

0:06.0

Climate One Conversations feature oil companies and environmentalists, Republicans and Democrats,

0:11.0

the exciting and the scary aspects of the climate challenge.

0:15.0

I'm Greg Dalton.

0:18.0

After decades of relying on imported oil, the United States achieved the unthinkable and became

0:26.6

the world's largest producer. Production has doubled over the past decade, and in February

0:31.7

reached its highest level ever, 13 million barrels a day. But as it turns out, all of that overabundance has led to a different

0:39.5

kind of oil crisis. They have basically drilled their way into financial hell where there's

0:46.3

obviously zero coordination. So everybody's just producing more and more oil. And there's too

0:51.2

much oil in the world before demand dropped off a cliff.

0:55.0

Amy Harder covers energy and climate change for Axios and is a former reporter with the Wall Street Journal.

1:00.5

What does the sudden plunge in oil prices bode for the economy?

1:04.2

Jason Bordoff, a White House energy advisor to President Obama, and founding director of the Center on Global Energy Policy at Columbia University

1:11.8

has a fairly dire prediction.

1:14.2

So you're going to see U.S. shale production, which is 13 million, probably down something

1:18.7

like 3 million by the end of the year.

1:20.8

Hundreds of thousands of people in oil producing states, Oklahoma, and Texas, North Dakota,

1:24.6

et cetera, losing their job.

1:26.8

My guest today include Jason Bordoff and Amy Harder, along with two other experts, North Dakota, et cetera, losing their job. My guest today include Jason Bordoff and Amy Harder along with two other experts,

1:31.1

Scott Jacobs, CEO and co-founder of Generate Capital, and Julia Piper, co-host and producer

1:36.5

of the political climate podcast and contributing editor at Green Tech Media.

1:41.0

They're all joining me from their homes to talk about the future of energy. What will be the

...

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