The developed world is in the midst of two concurrent energy revolutions. The US shale revolution has had a profound impact on global oil and gas while the plunging cost of renewables is having profound effects on electricity and potentially transport.
| 2010 | 2015 | 2018 | |
| Oil | Long-term price over US$100/bbl | Price slumps to US$40/bbl | Price rising again to US$60-70/bbl |
| Concerns about peak oil and security of supply | US shale revolution, record stockpile | US shale to cap price rise but how soon to peak oil demand? | |
| Gas | US prices over US$6/MMBtu, rising Australian prices | Low US prices, rising Australian prices | Alarm over east coast gas price and supply |
| Growth of unconventional | Increasing restrictions on Australian onshore development | Gas a target of anti-fossil fuel movement | |
| Continuing growth in Asia-Pacific LNG | Asia-Paciofic LNG over-supply? | Rocketing Chinese gas demand ightening LNG market | |
| Electricity | Expectations of growing electricity demand | Growth of renewables, shrinking baseload capacity | Rapidly growing share of renewables. Alarm about price and supply security |
| Environment | Calls for commitment to climate change action | Increasing commitment to climate change action | Rising opposition to all fossil fuels |
| Renewables | Regarded as marginal | Increasingly mainstream as costs plummet | Revolutionising electricity supply |
| Nuclear | Limited interest | Uncertain outlook but growing interest | Uncertain outlook |
Energy is undergoing a revolution. In this turbulent environment companies, investors and governments need:
- Robust and timely market data,
- Rigorous analysis to identify risks and opportunities, and
- Sound strategic advice.
EnergyQuest provides all three.
EnergyQuest also takes an integrated approach. Most energy issues have four dimensions:
- Economic growth: energy is a critical driver of economic growth and living standards.
- Energy security: governments, companies and customers want reliable and secure energy supplies.
- Environment and sustainability: Commitment to the need to reduce pollution and greenhouse emissions from fossil fuels and to develop sustainable energy sources.
- Equity: while the developed world has access to reliable power and motorized transport, 1.6 billion people in the world do not have access to electricity.
There are numerous trade-offs between these dimensions and no energy solution fits well with every dimension. We take an integrated approach to energy issues, taking account of the four dimensions.