15 May 2009
Conference report for 5th Transatlantic Energy Security Dialogue now available (copy 1)
The Global Public Policy Institute, Berlin held the 5th Transatlantic Energy Security Dialogue (TESD) conference from 2 - 3 April 2009 at the Bolger Center in Potomac, Maryland (outside Washington, DC). The conference was organized in collaboration with the American Institute for Contemporary German Studies at Johns Hopkins University. Additional support for this conference was provided by the European Commission and the Dräger Foundation.
This dialogue session, entitled "Govering Global Oil in the 21st Century: Trends, Challenges and Policy Implications for the Transatlantic Alliance" brought together professionals from all relevant sectors (governments, NGOs, business, the media, think tank and universities) in order to promote constructive debate on governance of the global oil market.
Oil continues to stand firmly at the front and center as a source of energy for the transatlantic partners, and indeed for the rest of the world. In contrast to widely held perception, oil will remain a critical component of our energy mix, supplying an estimated 33 percent of global energy as far into the future as 2030. Hence, it remains the single largest fuel in the primary fuel mix and total consumption is expected to increase by 70 percent. Being a crucial component of the economic and social health of a nation, experts have referred to oil as a “hinge” upon which economic development is critically dependent.
However, a number of significant, interlocking trends are currently transforming the framework conditions for global oil markets and require us to rethink the suitability and effectiveness of current governance arrangements that underpin the production, financing, trade and consumption of the resources. 1) The rise of new consumers (i.e. China and India); 2) The increasing role of state players on oil markets; and 3) The elevation of climate protection and domestic resource governance to “high energy politics”.
Together, these trends and their overall effect on the global oil market present significant challenges. It is crucial to determine exactly what implications these trends will have for the existing institutions and mechanisms of global oil governance, and what transatlantic partners can and should do to effectively deal with the resulting challenges.
Starting with an opening speech addressing energy security and the governance of global oil markets, the conference examined three main issues: (i) global and regional oil market trends (ii) implications of these developments on energy markets and actors; and (iii) energy policies of and cooperative approaches for the EU, the US and producing countries. Three panel discussions were held to address these main issues followed by the formation of small working groups which discussed some of the specific challenges and questions with respect to governing global oil.
Speakers at the event included, among others, Peter Ammon, State Secretary, German Federal Foreign Office; Edward Chow, CSIS; Charles Ebinger, Brookings Institution; David Goldwyn, Goldwyn International Strategies; Al Hegburg, US Department of Energy; Fareed Mohamedi, PFC Energy; Said Nachet, International Energy Forum Secretariat; Willy Olsen, INTSOK; Adam Sieminski, Deutsche Bank; and Eckart von Klaeden, Member of German Parliament and Foreign Policy Spokesman (CDU-CSU).
The TESD sessions are designed to complement our research program on global energy governance and serve as an important forum for both presenting our ideas and receiving feedback.
To download the conference report, including a list of participants and final agenda, please click here.
For more information on the conference, please contact Wade Hoxtell.