Joseph McMonigle

Energy is a key driver of the global economy and essential for economic growth, prosperity and security.  As a leading energy voice, Joseph McMonigle discusses how more investment in oil and gas is needed to power the global economy but also to keep prices in check with the goal of maintaining public support of transition policies. Most credible outlook scenarios conclude that all forms of energy will be needed to address rising demand for energy and materials in both the developed and developing world through 2050. Rising energy demand and growing global population will require policymakers to strengthen energy security even as they address global warming.

As a global energy diplomat and expert on energy markets, Joseph McMonigle outlines how the one-size-fits-all linear net zero energy scenario is outdated and counterproductive for making progress on reducing emissions. McMonigle provides insights on transition policies that promote “progress over perfection” to achieve rapid and real reductions in carbon emissions. These include investments in clean technologies such as coal-to-gas switching, decarbonization of oil and gas operations, carbon trading, carbon capture and storage and direct air capture. The energy transition is complex and can’t be solved by wind and solar as it was sold to the public. Instead, new technologies are needed to meet our climate goals so investing in R&D will be critical. The Googles of the future will come from the clean energy tech sector. But until these technologies are available, the world must continue investing in oil and gas as well as nuclear and hydropower.

As the leader of an international energy agency, Joseph McMonigle had to utilize deft diplomatic skills with such diverse member countries including Iran, Russia, China, India, USA, Saudi Arabia, Japan and 30 African countries. McMonigle has advised world leaders and energy ministers on how to manage severe shocks to the energy system. While energy is a global commodity, energy security is a key priority for every country’s national security and economic growth. But missteps on the transition have complicated the global energy order. Another emerging trend is the increasing divide between the Global South and Global North as energy access and affordability are paramount for countries in the Global South where the focus is stranded lives not stranded assets. Finally, McMonigle maintains close relationships with OPEC and many key ministers from OPEC member countries and provides insights on OPEC policy and help audiences to see around the corner on energy markets.

As GenAI cements its place in our working lives and becomes a train that can’t be stopped, there is a new focus on providing new energy supplies to meet this skyrocketing demand. As a global energy leader and market expert, Joseph McMonigle discusses how AI companies are less concerned about a shortage of chips but instead very alarmed by a shortage of energy. He highlights how all the energy scenarios of today are obsolete because they do not take into account the necessity and growing enormous energy demand from AI and other digital compute technologies.

As a former energy diplomat and leading geopolitical strategist, Joseph McMonigle maintains close relationships with OPEC and many key ministers from OPEC member countries. Not only has he been a featured speaker at OPEC conferences and seminars, he also has been inside the room at official OPEC meetings and conducted one-on-one private meetings with key ministers. Drawing on his extensive experience and familiarity with key players, McMonigle provides insights on OPEC policy and helps audiences to see around the corner on energy markets.

Having lived and worked the past four years in Saudi Arabia, Joseph McMonigle has had a front row seat to giant changes taking place in this G20 and oil-rich country. He has forged many relationships with key leaders in the government and business community in the Kingdom as well as leaders in other Gulf countries. McMonigle discusses the key factors contributing to the new Saudi Arabia economic miracle.  From empowering women in the workforce, diversifying its economy and investing in new industries and technologies, Saudi Arabia is the driver of the regional Gulf economy and becoming the modern country of the future.