The global energy sector is undergoing a period of enormous change, according to a special report on the current state of the industry by Bloomberg New Energy Finance. Consumption is moving away from coal, gas, and oil and towards renewables. Within the fossil fuel industry itself, sources such as gas are being prioritised over coal. Changes relating to energy use traditionally occur slowly as investments in the field are large and operational lives are long. However, the challenges of climate change mean that, despite investment in clean energy not being constant, we may now see rapid changes in energy transition.
The global energy sector is undergoing a period of enormous change, according to a special report on the current state of the industry by the Financial Times. Consumption is moving away from coal, gas, and oil and towards renewables. Within the fossil fuel industry itself, sources such as gas are being prioritised over coal. Changes relating to energy use traditionally occur slowly as investments in the field are large and operational lives are long. However, the challenges of climate change mean that, despite investment in clean energy not being constant, we may now see rapid changes in energy transition.