GBR

2009, Volume 12, Issue 3

The Economics of Energy

Audio Interview with BP's Chief Economist Christof Rühl on March 25, 2009

 

Warren J. Hahn, PE, PhD

Christof Rühl is Chief Economist of BP (British Petroleum) based in London, where he analyzes global economic developments and their impact on energy markets, and provides strategic input into BP’s activities.

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Christof RuhlDr. Christof Rühl

Dr. Christof Rühl has a distinguished track record as an economist in academia as well as in economic development and policy advice. Prior to joining BP in May 2005, he served as the World Bank’s Chief Economist in Russia and in Brazil.

From 1996 to 1998, Dr. Rühl worked in the Office of the Chief Economist at the European Bank for Reconstruction and Development in London. Earlier, Dr. Rühl was a researcher at German universities and a professor of economics at the University of California, Los Angeles. He is also a visiting professor at academic institutions worldwide, including the University of Western Ontario and the University of Chicago. To learn more about BP P.L.C., click here.

audio Audio Files

Full Interview audio listen save audio file download read transcriptread transcript
Oil Price Fluctuations
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OPEC and Future Oil Demand audio listen save audio file download
Impact of Downside Oil Speculation audio listen save audio file download
The Recession and Investment Levels
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How to Model Today's Energy Costs audio listen   save audio file download
Balancing New and Old Energy Sources audio listen save audio file download

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Questions for Dr. Christof Rühl:

  1. What is the role of BP's Economics Group?
  2. How did BP’s "Annual Statistical Review of World Energy" come about?
  3. What is the process for compiling the review?
  4. Do you use internal data in the review or does BP consider it too proprietary?
  5. Are you restricted on what you are able to infer outside of the company?
  6. How does BP use the "Annual Statistical Review" internally?
  7. Why does BP share the Review with the public?
  8. Do you believe the disconnect between fundamentals and prices diminish the value of quantitative modeling and analysis of energy markets?
  9. What does your research say about OPEC's ability to meet future crude oil demand?
  10. Was the declining energy demand and price expectations of 2008 based on real data or downside speculation?
  11. Are companies like BP, Shell, and Exxon pulling back on their investment levels due to the recession?
  12. How should energy costs be modeled given the current economic uncertainty?
  13. Is it appropriate on the fossil-fuel side to use a mean-reverting model?
  14. What policy changes are necessary to stabilize prices and promote investment in long-term conventional energy supply as well as next-generation energy sources?
  15. What do you think of Brazil's policy of developing ethanol as an energy source, as well as continuing to explore for oil and gas offshore?

Dr. Warren J. Hahn is an assistant professor in the decision science discipline in the Graziadio School of Business and Management at Pepperdine University, where he teaches graduate business courses in applied statistics and management science. His research interests are primarily in the area of numerical techniques for solving decision-analysis problems and quantifying the effect of operational decision-making on asset value. See his faculty page here.


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The opinions expressed are solely those of the authors and do not necessarily reflect the views of the Graziadio School of Business and Management nor Pepperdine University.