CEO Strategic Session 4. The Realities of Energy Transition
The role hydrocarbons play in the lives of almost everyone around the globe is enormous. We rely on hydrocarbons to power our economy and support our way of life. Unfortunately, using hydrocarbons generates the emission of greenhouse gases (GHG’s) which have negative impacts on the earth’s biosphere which are manifested as climate change. Although the use of fossil fuels generates negative side effects, its many benefits make it an indispensable commodity that it is simply not possible to replace in the short term. The challenge of what is required to transform our energy system in the most expedient manner possible, needs to be explored and discussed. Complicating the transition of the global energy system is the geopolitics of energy. Energy geopolitics becomes enormously complex as the interaction between countries that have energy resources and those who need them, interact with each other. The crux of energy geopolitics is that depending on which category a country falls into will influence its view on energy and the coming transformation. This will have major implications for how member countries of the WPC will view the transformation of the global energy system. At heart, all nations require energy security, whether they rely on it for revenue, to develop their economy, or maintain their prosperity.
11:15 - 12:15 : he Realities of Energy Transition (Panel Discussion)