[Editor's note: A version of this story appears in the April 2021 issue of Oil and Gas Investor magazine.]
I don’t know about you, but I’m getting weary of all this energy transition talk.
The weeklong virtual roundtables and plenaries at CERAWeek by IHS Markit in early March featuring discussion after discussion on how fast the world can pivot to 100% “clean” energy sources, I think, oversaturated my sensibilities. It’s as if the industry that fueled world development over the past century no longer matters. Not even a thank you or going away party as they introduce the new stars of zero emissions.
Don’t get me wrong, I support most all of the new technologies being developed to provide for our ever-growing energy needs. I believe the world needs every source of energy it can economically produce and that can viably compete for market share, and I expect some version of an energy transition will occur in time. I just don’t believe one should be at the exclusion of another, as is happening now with hydrocarbon fuels.
Indeed, the social and regulatory environment to demonize fossil fuels could have unexpected near-term consequences for those that wish for green-only subsistences.