Sir Mark Moody-Stuart on Transitioning to a Post-Carbon Economy
Sir Mark Moody-Stuart is a former chairman of Royal Dutch Shell and is a director of Saudi Aramco, which has the largest daily oil production of any oil-producing company.
He obtained a PhD on the Devonian sediments of Spitsbergen before joining Shell, where he started his career as a geologist in Spain, Oman, Brunei, and Australia.
After recognizing that our response to global warming demands a transformation of our energy strategy, he became a prominent voice for change in the oil industry. Here, he discusses how he sees this change coming about.
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Diagrams Supporting the Podcast
When Will the Demand for Oil Start Dropping?
Whether the global demand for oil increases or decreases depends on the difference between the growing demand of the non-OECD countries and the shrinking demand in OECD countries. Note, OECD stands for Organization for Economic Co-operation and Development, and its 37 members represent the high-income, developed countries.
This chart shows that overall, demand for oil has been shrinking in the OECD countries since 2000.
In contrast to the OECD countries, the demand for oil in the non-OECD countries has been growing since 2000, except for the most recent period which has been impacted by the COVID-19 pandemic.