S&P Global’s Ernsberger: New Opportunities May Emerge for Türkiye After Davos
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Summary:
S&P Global Energy President Dave Ernsberger said global economic resilience, surging electricity demand driven by artificial intelligence, and shifting trade dynamics could create new opportunities for Türkiye, particularly in metals markets, following discussions at the World Economic Forum in Davos.
Tariff Fears Failed to Materialize
Speaking to Bloomberg HT Research Director Çağlar Kuzlukoğlu on the sidelines of the World Economic Forum in Davos, **S&P Global Energy President Dave Ernsberger said one of the most inaccurate forecasts of 2025 was the belief that U.S. tariff policies would significantly slow the global economy.
“Almost everyone expected U.S. tariffs to slow the American economy and drag down the rest of the world,” Ernsberger said. “But the global economy remained strong throughout 2025 and has started this year with solid momentum.”
AI Is Driving Unprecedented Power Demand
Ernsberger warned that global electricity demand has entered a phase of exceptionally rapid growth, largely driven by the widespread adoption of artificial intelligence.
“Electricity demand is growing so fast that it is becoming almost unmanageable,” he said. “AI is now embedded in nearly every aspect of daily life and corporate operations. As AI usage expands, demand for data centers rises sharply — and data centers consume enormous amounts of electricity.”
According to Ernsberger, one of the central debates in Davos was whether power utilities would be able to supply the electricity required to support this surge in demand.
Post-Davos Energy Agenda and Türkiye’s Outlook
Ernsberger said the global energy agenda is likely to be reshaped following Davos, particularly as attention shifts away from earlier debates about Russian oil exports and toward new trade and commodity dynamics.
“For the past few years, the focus has been on how Russian oil exports function through the U.S., India and China,” he said. “After Davos, this discussion may evolve — and new opportunities could emerge for Türkiye.”
He added that these opportunities may be most visible in steel and scrap metal markets, suggesting that Türkiye could play a more prominent role as global trade patterns adjust.
“I think the discussion for Türkiye will increasingly shift toward metals markets,” Ernsberger said.
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