Speaker: Ramez Naam
The exponential curve of energy technology and what that will mean to our economy and our world.
– The fossil fuel industry is being disrupted by innovation.
– The price of solar, wind, batteries, and electric vehicles have all plunged rapidly, and will continue to plunge.
– The coal industry is the first of the three fossil fuel industries to be affected – with disruption and bankruptcies occurring already.
– Oil is next on the horizon, with efficiency, automation, transport-as-a-service, and electrification all leading to peak oil demand in the next 10-20 years.
– Declining oil demand will lead to low global oil prices, with enormous ramifications for oil-exporting nations (like Canada).
– Businesses and nations who ignore the energy transition stand to suffer drastic economic losses. Those who embrace it stand poised to reap a share in a multi-trillion dollar new market.