ENE472 Canadian and US Energy Markets: Meshed and Challenged

• Topics

  In the last 15 years, oil and gas production in North America almost doubled. This growth is driven by unconventional oil and gas production, both in the US and Canada. During the same period, total electricity generation remained stable, but the power sector’s energy mix changed significantly: 50% drop in coal and oil generation, compensated by an 80% increase in natural gas and a 400% growth in wind and solar generation. All these changes in the US, Canadian and Mexican energy markets have worldwide implications: lower oil and gas prices, boosting economic growth and increasing LNG exports, but making GHG reductions more difficult. Carbon pricing is nevertheless covering more sectors than ever, with a growing price. This seminar covers these trends in depth and explores the challenges created by these developments, especially in light of the geopolitical constraints on European oil and gas supply.

  All topics in this course are related to sustainability since energy production and consumption are at the center of sustainability crisis we are facing. Topics in the course related to carbon pricing are even more directly related to climate change mitigation actions.

• Learning outcome

  Upon successful completion, the students will:

  Knowledge

  • Have a good understanding of North American energy markets (oil & gas, electricity) in terms of production and consumption.
  • Have a good understanding of the structure and key institutions of North American energy markets.

  Skills

  • Be able to analyse North American energy challenges in fossil fuels and electricity supply and demand.
  • Be able to assess carbon markets and their impact in North America.

  General competences

  • Understand the global significance of North American energy market developments.
  • Appreciate the energy production and consumption dynamics in North America.
  • Be aware of the key decarbonization challenges in the United States, Canada and Mexico.

• Teaching

  One week-long intensive course with lectures and small case-studies.

• Credit reduction due to overlap

  None.

• Compulsory Activity

  Attendance is mandatory. A short presentation will have to be given on the individual essay (assessment) before the final submission.

• Assessment

  An individual essay (assignment) of less than 4,000 words on a North American energy challenge. The essay should include a description of the issue, some details of the possible technological and market solutions and a short analysis of the obstacles (institutional, social or of other types) that could be faced, with some approach to overcome them.

  Essays have to be handed in three weeks after the final lecture.

• Grading Scale

  Pass-Fail

• Literature

  IEA (2022) Energy Policies of IEA Countries: Canada 2022 Review. Paris: International Energy Agency. https://www.iea.org/reports/canada-2022

  IEA (2017) Energy Policies Beyond IEA Countries: Mexico 2017. Paris: International Energy Agency.  https://www.iea.org/reports/energy-policies-beyond-iea-countries-mexico-2017

  IEA (2019) Energy Policies of IEA Countries: United States 2019 Review. Paris: International Energy Agency. https://www.iea.org/reports/energy-policies-of-iea-countries-united-states-2019-review

  FERC (2020) Energy Primer: A Handbook of Energy Market Basics. Washington: Federal Energy Regulatory Commission. https://www.ferc.gov/sites/default/files/2020-06/energy-primer-2020.pdf