Low oil prices have prompted shifts in energy sector policy and investment. Wang Tao and Johannes Urpelainen discussed how renewable energy technology and government subsidies will affect consumers and oil producers.

Urpelainen explained that oil prices will likely have little effect on research and investment in renewables technology, because oil consumption is closely tied to the transportation sector, whereas renewables are concentrated in electricity generation. He also concluded that gradually cutting subsidies for renewable energy firms will encourage market competition and efficiency.

Johannes Urpelainen

Johannes Urpelainen is an associate professor in Columbia University’s political science department. His research interests include environmental politics, energy policy, and international cooperation on sustainability initiatives.

Wang Tao

Wang Tao is a resident scholar in the Energy and Climate Program based at the Carnegie–Tsinghua Center for Global Policy. His research interests include unconventional oil and natural gas as well as China’s energy policy.