While energy security is top of the agenda at the start of the winter heating season, policymakers and energy officials haven’t lost sight of the long-term vision to significantly expand renewable energy generation.
The leading narrative in the energy sector has shifted from a sole focus on net-zero goals to transforming the energy system to such that it can provide secure, affordable, and cleaner energy.
Both fossil fuels and renewables will need more investments to meet the world’s growing need for energy, industry executives and even the International Energy Agency say. The lesson for policymakers is that instead of a Paris Agreement that focuses on emissions, maybe the world needs a Paris that focuses on solving the energy trilemma, BP’s chief executive noted.
“These are the real causes of this state of energy insecurity: under-investment in oil and gas; alternatives not ready; and no back-up plan,” Saudi Aramco’s CEO“Because when you shame oil and gas investors, dismantle oil- and coal-fired power plants, fail to diversify energy supplies , oppose LNG receiving terminals, and reject nuclear power, your transition plan had better be right,” Nasser said.
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