New Energy Technologies
New energy technologies will open up new energy sources, and new end-use technologies will reshape demand patterns, just as they have for the last 150 years. It is important to remember, however, that these shifts happen slowly, over the course of decades. Free markets, open trade, and stable legal, regulatory and tax frameworks will facilitate these positive transformations. Change in energy use and technology development is an evolutionary process, but one that often has revolutionary impacts.
Technology is more important today than ever, since a significant portion of the world’s oil and gas resources is located in challenging environments such as deepwater, heavy oil/oil sands, tight gas and Arctic regions, which require innovative approaches to energy production.