A look at today’s energy mix provides a sobering reminder that oil, gas and coal continue to dominate the global energy system (see Figure 1).
Oil reigned supreme throughout the 20th century (reaching its peak in the mid-1970s) and while its share in the energy mix has fallen by 20% over the past 50 years, on an absolute level, oil consumption has grown year-on-year (see Figure 2).
This is an important consideration when discussing the ‘energy transition’ – a byword for achieving a net-zero energy system by 2050.
‘Energy transitions’ are not new. The world has . . .