Paul Dickerson and Tom Burton wrote an article published on Monday in the Houston Chronicle regarding the current fundamental change in the global energy landscape as well as the importance of energy diversity. The article, entitled "Burton III, Dickerson: Forget oil prices, renewables are here to stay," explores the decoupling between renewables and oil and how a diverse mix of renewables, coal, and natural gas is key to U.S. economic growth and security. For an overview of the article, along with more information about the article, continue reading!
In the article, Paul and Tom first explain the divergent trends in energy where we see yearly increases in global investments in renewable power (particularly in China, the emerging markets, and the Middle East) and a decrease in the dependence on oil. They identify three major reasons for the global divergence:
- The cost of renewables is rapidly decreasing as the rate of technological improvements in renewables increases.
- Major global policy decisions are rewarding the use of renewable energy and natural gas-fired generation—providing attractive incentives for parties to invest in these energy sources.
- Renewables are used for electricity generation (and transportation fuel, though this is negligible) while oil is primarily a transportation fuel.
Despite new regulations or changes to existing policies that could impede growth in renewables, Paul and Tom are certain that a fundamental energy change is occurring. And with this change, they encourage the U.S.'s continuing development of renewable fuels to ensure the "safety, reliability, and security of our energy supply."
We encourage you to read the article for additional information from Paul and Tom regarding energy diversity and the change in the global energy landscape!
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