The Environment

Managing Turbulence in Global Energy Markets

September 27, 2023  • Energy and Environment Program

Download Publication
View this Publication
Download PDF

Broad geopolitical trends and forces are impacting the energy sector and the clean energy transition — and vice versa — and this turbulence is occurring as the realities of climate change unfold. In some ways, the current global energy situation has returned to where things were before the pandemic and the invasion of Ukraine, with fossil fuel demand largely back to pre-pandemic levels. But a new clean energy economy is emerging quickly, though there is unevenness in the pace of change across geographies and in levels of investment across technologies.

During the 2023 Global Energy Forum in Paris, France, participants discussed the recent global energy crisis, how its affected world actors in vastly different ways, and the trends, exacerbated by Russia’s aggression in Ukraine, currently emerging in decarbonization efforts, clean energy technologies, global trade, and more. This report delves deeply into these topics and others.