Society, Economics and Policy
The economic, environmental, and social outcomes of any decision are central to any policy-making process, as these shape the public’s perception and ultimately determine the success of a policy. This is particularly true for energy policy, and necessitates studying and forecasting the economic, environmental, and social impacts of a decision.
The BP Statistical Review of World Energy undertaken by researchers at Heriot-Watt University provides a comprehensive overview of energy production, consumption, and worldwide trade movements. It also includes production and consumption data on oil, gas, coal, electricity, and renewables, such as nuclear energy, hydroelectricity, solar, wind, geothermal and biomass, and biofuels.
The comprehensive nature of the dataset makes it an invaluable tool in energy research and policy-making. The soon-to-be-established Energy Economics and Policy Research Unit will work in close collaboration with BP on the Statistical Review as well as BP’s Energy Outlook 2035 and will, therefore be in a unique position to conduct research related to the topics of energy economics and environmental policy.
An important avenue for the Unit’s growth is actively engaging with the public with the goal of influencing public perception of the petroleum industry and the whole energy sector as well as new energy and environmental policies.