The global economy depends on energy. Access to low-cost and abundant energy, most of it based on fossil fuels, has enabled rapid economic progress among developed nations over the past century. As development progresses and global incomes increase, and as that progress expands to include more of the global population the demand for energy will also grow, by a projected 42% in the next 25 years.
However, a major transformation is underway in where and how we create, distribute and use this energy, and that transformation will gain momentum in the years ahead. This transformation creates risks for existing energy industry leaders and their investors, but we believe the opportunities – for innovation, new business models, and the creation of new businesses and new jobs – are even greater.
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