The energy mix is changing. But there is much uncertainty about the nature of that change. What will the mix of the future be in terms of renewables, oil and natural gas, nuclear and new technologies? What will be the role of markets and demand, climate policy, and innovation in shaping the elements of future supply?
The mental map of the world oil industry is being reshaped by the growth of US shale oil—now making the United States the number one producer rather than the world’s largest importer. As China’s demand has grown, it has become the world’s largest importer. One response to the changing structure of the global market is a change in relations among the traditional exporters, with the emergence of OPEC-plus. How does the reconfiguration of supply change the perspectives of producers and consumers and their relations and affect thinking about energy security?
The shale revolution is configuring US supply, but how is this new supply to be connected to markets in terms of pipelines, ports, and LNG terminals? It’s a game of catch-up. The new National Petroleum Council study Dynamic Delivery: America’s Evolving Oil and Natural Gas Transportation Infrastructure provides a framework for addressing how to meet the new infrastructure needs. This session will discuss the requirements and the technological advances and regulatory reforms that will enable the infrastructure to catch up—that is, go forward to realize the benefits of this new abundance for consumers and the national economy.
The focus on the energy transition provides both opportunities and challenges for natural gas, the most environmentally friendly of the fossil fuels. The gas industry has already shown that it can reduce emissions and improve air quality, but can it also demonstrate that it is the foundation for deeper, faster decarbonization? What does the gas industry look like in a deep decarbonization world, and how does it adapt? What role does thermal power—and especially natural gas—play in power systems with increasing amounts of renewable supply? How can industry and policymakers counter the opposing risks of stranded assets and carbon “lock-in”?
Living Machines are among the most exciting new developments in technology—and have the promise to reshape the world and to overcome the greatest humanitarian, energy, and environmental challenges of our time. We are on the cusp of a new convergence, with discoveries in biology coming together with engineering to produce another array of almost inconceivable technologies—next-generation products as paradigm shifting to the next century as was the digital transformation to the last. They also pose new risks and challenges. Susan Hockfield is a world-renowned neuroscientist, author, and former president of MIT.
Coal provides 27% of world energy, almost 60% of China’s energy, and generates 28% of US electricity. All of this is in a world increasingly focused on emissions. What are the prospects for clean coal technology and for coal to establish new markets?