Oil fueled the 20th century—its cars, its wars, its economy and its geopolitics. As the US returns to the Paris Climate accord and after President Biden pledged to halve carbon emissions by the end of 2030, the world is speeding up the shift to a new, greener order. But what does that really mean? Will we finally say goodbye to fossil fuels? This week, The Agenda with Stephen Cole talks to people in "power" to see what the future of energy may look like.
The COVID-19 pandemic has created a hiatus around the globe. According to a recent report by the International Energy Forum, gasoline demand is unlikely to return to pre-pandemic levels. It might help us rethink and reshape the sustainable energy sources. JosephMcMonigle, Secretary-General of the International Energy Forum tells Stephen that limited fossil fuel use could continue even with net-zero emissions.
As the world looks to alternative sources of energy, oil and gas companies are facing more pressure to transition and survive. Stephen asks Ulrika Wising, Global Vice President of Customer Solutions and Renewable Energy Solutions at Shell about what they are doing to help customers to de-carbonize.
Nuclear is considered a clean energy - in relation to carbon - but many people are hesitant about nuclear power or rather nuclear power plants. Dr. Jonathan Cobb from the World Nuclear Association tells The Agenda it is an energy source that's providing an enormous benefit at the moment, supplying 10 percent of electricity without greenhouse gas emissions.
The International Renewable Energy Agency works with countries like China to enhance their power systems. Francesco La Camera is the director general of IRENA. He explains that last year saw the biggest ever increase in renewable energy capacity. And with commitment from many countries, La Camara is confident that the demand for renewable energy sources is only heading in one direction.