The Harsh Reality of the Global Energy Transition

By Robert Rapier – OilPrice.com

• The energy transition, which has become a focus of governments around the world, is the global shift from fossil fuels to renewable energy sources.
• The reality is that global energy demand growth has consistently outpaced the growth of renewable energy over the last 10 years.
• This has led to a continued reliance on fossil fuels and rising carbon emissions, despite efforts to transition to cleaner energy sources.

The concept of the “energy transition” emerged after the 1973 oil crisis and was widely popularized by President Jimmy Carter. It refers to the global shift from fossil fuels to renewable energy sources, aiming to reduce greenhouse gas emissions and combat climate change. This transition is driven by government policies, international agreements like the Paris Agreement, and technological advancements in energy storage and efficiency.