Audio Interview with BP’s Chief Economist Christof Ruhl

The Economics of Energy

2009 Volume 12 Issue 3

Christof Ruhl 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.









Dr. Christof Ruhl









Dr. Christof Ruhl 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. Ruhl worked in the Office of the Chief Economist at the European Bank for Reconstruction and Development in London. Earlier, Dr. Ruhl 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 Files

Full Interview [powerpress http://gsbm-med.pepperdine.edu/gbr/audio/ruhl/ruhlinterview.mp3] or read transcript
Oil Price Fluctuations [powerpress http://gsbm-med.pepperdine.edu/gbr/audio/ruhl/ruhl_oilpricefluctuation.mp3]
OPEC and Future Oil Demand [powerpress http://gsbm-med.pepperdine.edu/gbr/audio/ruhl/ruhl_opecceiling.mp3]
Impact of Downside Oil Speculation [powerpress http://gsbm-med.pepperdine.edu/gbr/audio/ruhl/ruhl_speculations.mp3]
The Recession and Investment Levels [powerpress http://gsbm-med.pepperdine.edu/gbr/audio/ruhl/ruhl_investmentlevels.mp3]
How to Model Today’s Energy Costs [powerpress http://gsbm-med.pepperdine.edu/gbr/audio/ruhl/ruhl_energycostmodel.mp3]
Balancing New and Old Energy Sources [powerpress http://gsbm-med.pepperdine.edu/gbr/audio/ruhl/ruhl_efficiency.mp3]

Note: If the file does not download automatically, right click on the download icon and click “Save Target/Link As…”

Questions for Dr. Christof Ruhl:

  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?

About the Author(s)

Graziadio Business Review, is an online journal that delivers relevant business information and analysis for business, government, and non-profit managers. From accounting and finance to ethics and work/life balance, the Graziadio Business Review extends current business debates in new directions that you can use to advance your business and professional career.

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