The world needs more energy, not less. But for a whole host of reasons, the aspiration is that it is clean at the point of extraction, clean at the point of consumption, secure and affordable. Ultimately, this points to a rising market share for electricity: renewables, nuclear power and much cleaner fossil fuels.
The drivers of this trend are clear.
Today, the average world citizen only makes around $8,000 dollars a year. With a world economy growing on average at 3-5% a year, soon that world consumer will aspire to have central heating, live in a city, drive a car, own a computer and even have access to air conditioning. Increasingly, that will mean a greater penetration of electricity in the total energy supply. The supply and environmental constraints of fossil fuels are real.
All of that has a huge impact on the traditional supply of fossil fuels to the West and the sources of their future energy production. Europe is suffering from a long investment deficit in electricity generation that will struggle to meet the 2020 targets as well as a replacement programme for ageing conventional plant. And the United States has suffered from decades of under-investment in its electricity network infrastructure, nuclear and renewables industry.
Future Energy Strategies understand the scale of this challenge. But we will never shrink from telling you the cold facts combined with an insightful analysis that enables you to draw your own objective conclusions.
The energy information gap
Far too many people in the energy industry have an agenda. This does not mean that they are wrong, but it makes it harder for investors, suppliers, regulators, policymakers, law firms, academia and media pundits to navigate to the truth. FES has no agenda other than to host top quality events with leading thinkers and provide an insightful reporting service, which is topical, concise, affordable and where wanted, bespoke.