Very insightful view from the bp Energy Outlook 2024
Progressing the energy transition: from energy addition to energy substitution
- The bp Energy Outlook 2024 points out that despite the rapid growth in deployment of low carbon energy in recent years, global energy system remains in an “energy addition” phase of the transition.
- Such “energy addition “phase has occurred in previous structural transitions of the energy system, according to the outlook.
- https://www.bp.com/en/global/corporate/energy-economics/energy-outlook.html
Two charts, one from the US DOE/EIA and from the Our World in Data, describe the historical change of energy use in the US and in global basis.
- DOE/EIA https://www.eia.gov/todayinenergy/detail.php?id=62444
- Our World in Data https://ourworldindata.org/grapher/global-energy-consumption-source?time=earliest..2023
We think it is critical to revisit and understand the past dynamics within the energy industry to better anticipate, plan, act and cope with the ongoing energy transition trend.
CLAVIS ENERGY PARTNERS LLC