The concluding report from the World Energy Leaders' Summit in Cartagena on 23-24 Oct 2014 could be newsworthy as a summary of looming uncertainties in the energy market.
In Feb 2014 the World Energy Council, which organizes the annual summit in various cities around the world, reported that for the first time energy price volatility and recession have replaced climate framework uncertainty as the number-one critical uncertainty driving the world energy agenda. The new potential supply changers include the West's dispute with Russia over the Crimea and its much older dispute with Iran over the major oil supplier's atomic program. Planned economic sanctions on Russia could slow the flow, while the potential lifting of sanctions against Iran could increase the flow, with both developments creating market uncertainties. The World Energy Council describes itself as a United Nations-accredited global energy body formed in 1923 that represents the entire energy spectrum.
Date written/update: 2014-03-20