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Trump's Energy Policy vs Obama's

   

Added on  2020-04-21

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Global Energy Outlook1GLOBAL ENERGY OUTLOOKby [NAME]CourseProfessor’s NameInstitutionLocation of InstitutionDate
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Global Energy Outlook2Global Energy OutlookGlobal Energy Outlook is the flagship of International Energy Agency that is mostly considered as the most important source of global energy analysis. It offers strategic understanding into current policy and decisions for investments for long-term trends (Energy Information Administration (U.S.), 2016). The shifts in the global energy system have been enormous including the quick deployment and decline of the cost of renewable energy technologies. Shell Oil Company in the USAShell USA targets to increase domestic production of oil to attract more investors for the growth of the USA’s economy. Global energy outlook is of great importance within the Shell Company due to the following reasons.The USA’s energy production could increase from around 8.1 million barrels up to 11.1 million barrels per day by the year 2020 while the demand for oil in the USA could reduce to 15 million drums from 17 million drums by the year 2025 as estimated by the International Energy Agency. Shell could construct a gas-to-liquid facility along the Gulf Coast of the USA as well as advocating for the use of equitably low cost liquid natural gas to fuel trucks and trains.The company has led to massive growth of USA’s GDP due to emerging economies that are growing at a swift rate since people more than 2 billion are raised from low incomes.Shell Company has enhanced the rapid growth of renewable sources of energy which, as estimated will quadruple over the coming 20years due to the competitive nature of the market.
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Global Energy Outlook3It has also led to the development of the power sector as the world economy keeps electrifying with almost 2-thirds of energy globally pumped into the power sector.Low-cost oil producers are also able to increase their market share by taking advantage of their competitiveness since oil resources are abundant (Johansson, 2012).Analyze the different energy policy frameworks in relation to the impact of the differentelements of energy sources and sustainabilityThree main policy scenarios are used to run the global energy outlook which includes New Policy Scenarios, Current Policy Scenarios, and the 450 Scenario. The three policies are taken with the assumptions on population and economic growth, along with energy and climate policies and deployment of technologies (Kuzemko, 2015). Essential developments in policy in 2013 have been given many considerations to varying depths in the scenarios as mentioned above as noted in WEO-2013.The New Policy Scenario incorporates the measures and policies affecting the energy market which were enacted in mid-2013. It also gives consideration to other commitments whichhave already been announced even though the correct implementation measures have not been defined as of yet (International Energy Agency, 2014). Examples of these commitments include; programs to improve energy efficiency and support renewable energy, plans of promoting alternative fuels and policies that relate to the expansion of nuclear energy among others.The Current Policy Scenario only considers policies and measures that affect energy markets which were enacted formally by mid-2013. This policy scenario provides a picture of the probable evolution of the global market as long as the established trends in demand for energy is not controlled.
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