Fossil fuel economy’s “grand transition”

World energy demand will peak before 2030, according to a new report by the World Energy Council, a working group of 300 public and private organizations drawn from 90 countries.

The report, called “The Grand Transition,” sites four “disruptive trends” that will level demand within a dozen years: slower population growth, government policies to curb carbon emissions, new technologies in energy conservation and production, and a shift in high-growth markets from developed to developing countries, where solar and other renewable options will predominate.

The study urges government and industry leaders to reassess energy strategies and investments, develop policies that “decarbonizes” energy supply chains, and exploit the disruption of the energy economy to reduce costs and diversify suppliers.

TRENDPOST: The world has skirted the dire warnings of the Peak Oil Movement and instead is opening a diverse menu of energy options. This report is one among many that emphasize the benefits of, and the business case for, acting sooner rather than later to leave the fossil fuel economy behind.