Powering Global Prosperity: New Energy for Pressing Industry Challenges

Global prosperity requires reliable energy at a reasonable cost. To meet this demand, the industry is changing the way it produces energy and power, whether it comes from hydrocarbon, nuclear or renewable means. Supplying it requires sustainable development, environmental stewardship, compliance with regulations and cost management. Independent of prices, the industry’s most pressing challenge is cost per unit of energy. Recent layoffs and out-of-the ordinary cuts to capital and operating costs are driving the oil and gas industry to produce energy more efficiently, more safely, and with a smaller carbon footprint. Debate over subsidies, reliability and viability have resulted in accelerated development/deployment and widespread innovation in renewable energy, which includes solar, wind and hydropower, fuel cells, wave and tidal, energy storage, the next generation of fission nuclear reactors and advancements in fusion energy. Continue reading