Emerging Trends in Global Energy

Paolo Scaroni, Deputy Chairman of the Rothschild Group

Rothschild Group Deputy Chairman Paolo Scaroni and Dean Vali Nasr talked about the current challenges faced in the Middle East along with the impact of the low oil prices and how this tendency will affect the region as well as the global economy. Additionally, they discussed the impact of natural gas and renewables on the global energy market. Scaroni also gave his opinion on future trends and technological development in the energy sector. Finally, Scaroni gave an apt diagnosis of what would happen if major oil producers stopped producing oil. "Oil independence," an issue discussed at great length in the United States, will not have the desired effect of keeping the US out of reach of oil price fluctuations in other countries. For instance, if the price of Saudi oil goes up, it has a negative effect on economies of other countries, which in turn will still affect the economy in the United States.