As the keynote speaker at the Singapore Energy Lecture, Dr. Daniel Yergin was toeing his usual line of optimism on the subject of oil and energy. As the Founder and Chairman of Cambridge Energy Research Associate (CERA), Dr. Yergin has a long career in the energy industry, though one some challenge as upholding the status quo of business and industry.
“The century ahead of us will be defined by energy innovation,” he said in his keynote address. “We need availability and security of energy, and a depth and diversification of energy sources.”
He spoke of the odd timing of the Copenhagen agenda of lowering carbon emissions (of which fossil fuel energy sources are a key contributor) by 2050, as well as projections that by 2030, there would be a substantial growth of energy needs worldwide. Some 80% of which these energy demands are to be met by hydrocarbon sources. Indeed, humanity faces some difficult decisions and conflict in the years ahead: development at what cost?