The traditional energy industry has trained us to believe we need every molecule to deliver GDP growth.
The reality is that GDP growth is now decoupled from energy growth. We are looking at a future of potential flat to declining energy demand.
Imagine a world where the marginal cost of fuel is free, average energy costs are declining, and GDP growth requires less marginal energy.
Imagine what changes, and what new business opportunities come from that.
Historically, the challenges to resource efficiency have not been financial barriers - but rather technological and behavioral. Sustained, long term low energy prices, climate change and Covid are re-writing those barriers, to the benefit of resource efficiency, including decarbonization, that were not practical even a few years ago.
Delivering on the climate goals will be challenging and costly unless the energy intensity of GDP is improving. Positive GDP and ROI can be delivered through efficiency - it pays for itself.