“One day we’ll look back and realize that the era of oil lasted for about 150 years – and that it then came to an abrupt and dramatic end. That one day? It’s happening right now!” – #Futurist Jim Carroll
I’m in Nantucket this morning to meet with the Board of Directors of a major energy company – and I’ll spend some time with them putting into perspective the trends which are reshaping the global energy industry at an absolutely blinding, staggering speed.
Here’s the reality that I will talk about: oil is over. Carbon is done. Natural gas is but an insurance policy. Coal? Laughable.
We’re moving rapidly to a world dominated by renewables, micro-grids, local battery storage technology, electrified roads, electric vehicles and more. 90% of the energy investment between now and 2050 will go into this new world, and not the old. That’s not from me – that’s from Bloomberg.
What’s interesting is that they know this already, and agree with me going into the meeting. (Their logo is in the photo behind me.)
Here’s what is fascinating: we have lots of intelligent people in the US – and some no so intelligent, obviously – talking coal. That future reality is such a joke that it doesn’t even deserve a punch line. Investment in coal mining, infrastructure, extraction and energy products is all but disappearing. So separate the political hot-air foolishness form the realty on the ground.
There are massive investments an projects underway in this new world of energy – and both the producers and the utilities know it. They’re paying diplomatic respect to the 20th century idiots, but are busy investing in the 21st century.
Science is driving the trend – simply look at the rapid evolution of battery storage technology. Micro-grids? They’ve gone from a concept to disruptive reality faster than you can say disruption.
Disruption? This utility might find itself in the business of building electrified roads at the same speed that a massive shift to electric vehicles accelerates.
And it’s happening faster than you think!