It's different for wind versus hydrocarbons. It's grids, storage, pipelines, infrastructure, obviously depends on the joule or the fuel, right? And the second axes is energy systems, which is everything to do with getting those joules, which we'll talk about later to the consumer. You don't have to generate sun or wind, but you clearly have to ensure that you can process that into electrons and that's the one axes. One being energy generation, which we typically think is just the generation of oil, gas, renewables. You mentioned energy outlook and thank you for your kind words, we've had a lot of interest in reviewing the way we think about the energy outlook and I would say reviewing, but more like articulating it in the context of these four axes. How do you think about that data point? How do you think about inflection points in energy finance as we look forward to a low carbon future, but we're trying to maintain security today?Ĭhristyan Malek: That's a great question, Joe, and it's a good place to start, particularly with IEA and other references. This year over the summer, IEA announced this benchmark finding for the first-time solar investment is now larger than an investment in oil production, both hovering just under $400 billion a year according to EIA estimates. You look at the whole energy system, as an analyst. I read the JPM Global Energy Outlook over the summer and you and I have talked a few times in different forums, so it's really great to have you on the podcast. Joseph Majkut: I'm so excited to speak with you. I'm so glad you're here, welcome.Ĭhristyan Malek: Thank you, it's great to be here. Joseph Majkut: Christyan, welcome to Energy 360. I’ll turn it over to Joseph now for the full conversation. Christyan himself is also ranked as the top-rated global energy analyst in the individual category.Ĭhristyan is joined by Joseph Majkut, director of the CSIS Energy Security and Climate Change Program for a wide-ranging discussion on the future of energy markets, barriers and opportunities for investment, how to provide consistent energy security and grow the global energy system. This week we turn to energy security and energy markets with leading expert, Christyan Malek.Ĭhristyan is a Managing Director and Global Head of Energy Strategy for JP Morgan and Head of EMEA Oil & Gas Equity Research.Ĭhristyan and his team at JP Morgan have been consistently ranked by Institutional Investor in European Exploration and Production and Oilfield Services, achieving the first place rank four years in a row in in both the Developed Europe and Emerging Europe, Middle East, and Africa categories. Lisa Hyland: Hello and welcome to Energy 360, the podcast from the Energy Security and Climate Change Program at CSIS. Christyan Malek: If energy prices go up, you have more inflation, you have more inflation, you have higher interest rates, you have higher interest rates, the government's under pressure, their own cost of debt is going up and therefore, how do they subsidize the transition?
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