The mounting disruptions in oil markets

Technological advances in drilling have had a profound impact on our economies and societies, unlocking vast energy resources underground. The first commercial oil well in 1859 paved the way for the modern oil industry, and more recent breakthroughs have repeatedly reshaped global energy dynamics.  Innovation in drilling technologies continues today. Some of these technologies have helped lay the basis for next-generation geothermal energy projects, which could unlock heat as a reliable and low-emissions energy resource in many parts of the world. This episode is the second in a three-part miniseries on energy innovation stories that changed the world. It is hosted by Dan Hewitt and produced by Dan Hewitt and Julia Horowitz. Guests include IEA energy analyst Courtney Turich; Sjoerd Brands, technical manager in Europe for well construction at SLB; Iain Hutchison, Chief Executive Officer of Merlin Energy; and Kristie McLin, Principal Investigator of the Utah FORGE project.

Today, solar PV is the fastest-growing energy source in the world. Yet that would not have been possible without a history of innovation spanning decades. From the breakthrough discovery of a practical silicon solar cell at a US phone company in the 1950s to the rapid scaling up of solar panel manufacturing in China in the 2000s, these advances – along with supportive policies – have made solar energy cost competitive globally. And innovation could now reshape the sector once again, helping address emerging challenges such as grid integration and supply chain concentration. This episode is the first in a three-part miniseries on energy innovation stories that changed the world. It is hosted by Dan Hewitt and produced by Dan Hewitt and Julia Horowitz. Guests include IEA energy technology analyst Simon Bennett; Sekisui Chemical Co. group leader Takeru Bessho; Qcells Global Chief Technology Officer Danielle Merfeld; and Greg Nemet, professor at the University of Wisconsin-Madison and author of the book “How Solar Energy Became Cheap.”

Amid the disruptions resulting from the conflict in the Middle East, energy systems have come under significant pressure – compounded, in some parts of the world, by record-breaking heatwaves. But one of the most effective tools for easing these strains – and energy costs – remains underutilised. In this episode, we speak with Brian Motherway, who leads the IEA’s work on energy efficiency and affordability. He explains why we often fail to make use of the world’s “first fuel” – energy efficiency – and discusses practical steps governments can take to help consumers save energy and money, without compromising economic growth or their quality of life.