NIAS Public Lecture: "Potential Global Economic Impact of OPEC’s Oil Production Freeze" by Dr. Badri Narayanan. G., Lecture Hall, NIAS, 10.30AM
NATIONAL INSTITUTE OF ADVANCED STUDIES
Indian Institute of Science Campus,
Bengaluru - 560 012
invites you to a
“Potential Global Economic Impact of OPEC’s Oil Production Freeze”
Dr. Badri Narayanan. G.
Economist, School of Environmental and Forestry Sciences, University of Washington-Seattle
Monday, 3rd July, 2017 at 10.30 AM
Venue: Lecture Hall, NIAS, IISc Campus, Bengaluru - 560012
Chairperson: Dr. Hippu Salk Kristle Nathan, Assistant Professor, NIAS
Abstract: World oil prices have been depressed for more than two years because of the global oil supply glut. After reaching their peak in mid 2014 and trading at over $100 a barrel, oil prices went into a free fall later that year and briefly plunged below $30 per barrel in early 2016. The Organization of the Petroleum Exporting Countries (OPEC), which comprises of 14 oil producing member-countries and controls around a third of world oil production, had until recently chosen not to throttle production in order to maintain global market share and probably to drive U.S. shale oil and non-OPEC oil producers, who have higher costs, out of business. Given these uncertainties about the supply shifts, both now and in the future, it would, therefore, be interesting to analyze their effect on global oil prices. In order to quantify the impact of these supply changes, this paper develops and employs a global Computable General Equilibrium (CGE) model, with a detailed framework capturing all energy sources comprehensively. We assess the impact of oil production cuts on renewable sectors and CO2 emissions as well. Our preliminary results indicate a potential shift towards renewables and consequent reduction in emissions, despite losses across the world due to the artificial reduction in oil supply.
About the Speaker: Dr. Badri Narayanan is an experienced consultant, academic/corporate researcher, applied economist and inter-disciplinary scientist. He has extensive experience in producing and managing global economic datasets and models widely used by researchers and analysts across the world. He has widely published his research in the areas of trade, energy, environment, agriculture, labor, health and manufacturing, cutting across disciplines, with numerous citations in top journals like Nature and American Economic Review. He is a peer reviewer and editorial board member for several international journals. He worked as a Principal Investigator for grant-funded and consulting projects with top universities like Purdue University, Harvard University and London School of Economics, as well as leading firms like McKinsey, KPMG and PWC.
All are cordially invited
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For further information, please contact Dr.Hippu Salk Kristle Nathan <email@example.com>