Why there is an energy crisis and when it will end: Business Extra


A Bharat Petroleum Ltd. tanker travels along a road near the Tata Power Co. Trombay Thermal Power Station in Mumbai, India, on Wednesday, Oct. 6, 2021. India is grappling with an escalating crisis as stockpiles of coal, the fuel used to generate about 70% of the nation’s electricity, dwindle to the lowest in years just as power demand is set to surge. Photographer: Dhiraj Singh / Bloomberg

© Dhiraj Singh A Bharat Petroleum Ltd. tanker travels along a road near the Tata Power Co. Trombay Thermal Power Station in Mumbai, India, on Wednesday, Oct. 6, 2021. India is grappling with an escalating crisis as stockpiles of coal, the fuel used to generate about 70% of the nation’s electricity, dwindle to the lowest in years just as power demand is set to surge. Photographer: Dhiraj Singh / Bloomberg

What do a coal shortage in China, a cold winter in Europe and oil’s rally to a three-year high have in common?

Herman Wang, managing editor at S&P Global Platts, joins co-hosts Mustafa Alrawi and Kelsey Warner this week to answer that, and what to expect going forward.

They discuss what will happen to oil prices amid the energy crisis and how we got here. The answers are more complicated than tidy narratives about underinvestment in hydrocarbons amid the energy transition, or basic fundamentals of supply and demand.

Hosted by Mustafa Alrawi and Kelsey Warner

Produced by Arthur Eddyson and Ayesha Khan

In this episode

How did the energy crisis happen? (0m 40s)

How long will this crisis last? (3m 12s)

The reaction from Opec+, US and China (5m 57s)

COP26 and the energy transition (10m 14s)

Oil demand towards 2050 (15m 10s)

Read more

Brent nears $85 amid continued energy shortage

Explainer: What the path to net-zero and carbon neutral means

Oil prices could hit ‘$100 per barrel by the end of 2021’, Roubini says

Clean energy investment needs to triple over the next decade, IEA says

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