Spencer Dale – chief economist | Energy economics

bp chief economist Spencer Dale is responsible for advising the board and executive team on economic drivers and trends in global energy

Renewables are likely to be the fastest-growing source of energy over the next 20 years; penetrating the global energy system more quickly than any fuel ever seen in history.Spencer Dale,chief economist

Statistical Review of World Energy 2021 | 70th edition

The inside track on an historic year in global energy markets

2020 was one of the most tumultuous years for global energy in modern history – what does this mean for the energy transition and the path to net zero?

Spencer Dale, bp’s chief economist, hosted this year’s virtual launch of the bp ‎Statistical Review of World Energy on 8 July, at which expert commentators reflected on ‘the path to net zero: ‎opportunities and challenges for COP 26’.‎ An on-demand recording of the Statistical Review of World Energy launch webcast is now available.

Podcast: New energy order—how clean power is fuelling geopolitical changes

In this podcast about how the COVID-19 energy shock is catalysing a shift to a new world order, The Economist asks Spencer whether the world has passed peak oil

Peak oil demand and long-run oil prices

Spencer Dale and Bassam Fattouh on the shift from the concept of peak oil ‎‘supply’ to that of ‘demand’‎

In conversation

Reimagining energy talks to bp chief economist Spencer Dale about oil prices, a banking crisis and scoping the energy future

Role at bp

Spencer Dale is bp’s chief economist. He manages bp’s global economics team, providing economic input into the firm’s commercial and strategic decisions. bp’s economics team also produces the annual Statistical Review of World Energy and the Energy Outlook.

Background

Spencer Dale joined bp as group chief economist in October 2014. Prior to that, he was executive director for financial stability at the Bank of England and a member of the Financial Policy Committee. Between 2008 and 2014, Spencer was chief economist of the Bank of England and a member of the Monetary Policy Committee. Spencer joined the Bank of England in 1989 and served in numerous roles, including private secretary to Mervyn King and head of economic forecasting. Spencer served as a senior advisor at the US Federal Reserve Board of Governors between 2006 and 2008.

Education

He was educated at the University of Wales, gaining a BSc in Economics in 1988 and at the University of Warwick, gaining an MSc in Economics in 1989, whereupon he immediately joined the Bank of England.