Global Energy analyst Jeff Currie tells Bloomberg the Energy Transition is “TurboCharged” – but it’s not about climate, and maybe never was.
By far the biggest growth in energy consumption is going to come from the developing world in Asia and Africa, and those countries are no longer willing to be held hostage to fossil fuels.
Case study – Thailand.
Thailand is using the oil shock caused by the Iran war to accelerate a shift toward electrification and domestically sourced energy, trying to turn a supply crisis into a push for greater security.
Rising prices have reinforced the government’s drive to electrify the economy, including greater adoption of battery-powered vehicles, as policymakers seek to reduce dependence on imported crude that accounts for about 90% of Thailand’s oil supplies, Energy Minister Akanat Promphan said in an interview with Bloomberg Television.
Global energy prices have soared since the US and Israeli attacks on Iran resulted in the collapse of shipments of oil and liquefied natural gas through the Strait of Hormuz. South and Southeast Asian nations that relied heavily on the Middle East because of its proximity have been particularly hard hit.
Continue reading “Energy Transition is No Longer About Climate Change”




