Wednesday, 12 October 2011
Peak Oil and the Quest for Energy
Best selling Pulitzer-Prize winning author Daniel Yergin has a new book out The Quest: Energy, Security and the Remaking of the Modern World. The world will never completely run out of oil, but the low cost easily accessible deposits are now in decline forcing the exploration and production of oil from more expensive and risky areas. The world demand for energy is going to grow enormously in the coming years and in the book Yergin sets out the factors to consider as the world moves towards energy transition. In essence, the $6 trillion global energy industry is up for grabs. Yergin's view is that technology, innovation and energy efficiency will help to offset rising oil prices. Coming in at slightly over 800 pages this is one heavy read. Here is a link to a Harvard Business Review blog that suggests Yergin's view might by overly optimistic.