The National Petroleum Council recently published a report titled *"Facts"* during the OPEC summit, offering insights into the global energy landscape by 2030 and outlining strategic responses. The report highlights several key realities that the U.S. and other nations are expected to face over the next two decades.
First, it states that fossil fuels—coal, oil, and natural gas—will remain critical energy sources for the foreseeable future. Second, while energy resources won't run out, the continued extraction of oil and gas, especially through unconventional methods like fracking, will bring about growing environmental and safety risks. To mitigate these, the report emphasizes the need to diversify energy sources. However, alternatives such as coal, nuclear power, renewables, and non-traditional hydrocarbons come with their own set of challenges, including regulatory hurdles, economic constraints, and infrastructure demands.
The report also warns against being misled by the idea of "energy independence" or "enhanced energy security." It suggests that true energy independence is still more of an aspiration than a near-term reality. Additionally, it notes that a significant portion of the U.S. energy workforce, including scientists and engineers, will retire within the next decade, creating a potential skills gap.
Finally, the report addresses the impact of carbon emission policies, which are expected to reshape energy composition and increase costs in related industries, while also pushing for slower demand growth.
In response, the National Petroleum Council recommends expanding the use of energy across transportation, residential, commercial, and industrial sectors. It calls for increased investment in clean coal, nuclear power, biofuels, and other renewable sources, along with enhanced research and development capabilities. The report also urges stronger international collaboration on energy, trade, and environmental policies, while promoting the development of a global carbon management framework through improved regulations and support for carbon capture technologies.
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