This report examines a variety of scenarios for the future of global energy markets. Some of these scenarios evaluate factors that could trigger a regional or worldwide energy crisis. The study assesses the geopolitical risks currently facing international energy markets and the global financial system. It also investigates the consequences that such risks could pose to energy security, pricing, and supply, as well as to the transparent and smooth operation of the global market for oil and natural gas trade and investment. By analyzing these threats in depth, the study identifies a series of policy frameworks that can be used to fortify the current market system and ensure that it can respond flexibly to the array of threats that might be encountered in the coming years. The study also looks at the impact of emerging climate policy on the future of world energy markets.
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