To help ensure energy companies can satisfy the shareholder mandate to transition to low-carbon fuel technologies that are not currently in their portfolio, they need a way to maintain cash flow from the existing business. This is where the opportunity exists: to bring in new technologies that reduce the greenhouse gas footprint of their operations, that integrate renewables into their operations, and that increase operational efficiency. Additional value can be created through operational resiliency with deep digital integration of renewables and power. This becomes the pathway for these companies to participate in the transition, and even more importantly, provide capital and deployment opportunities for technologies that have the potential for global impact.
In 2020, the world will use ~100 million barrels of oil per day. Add to that nuclear energy, natural gas, and coal, and top it off with the small, but growing, renewables sector.Without oil and gas, our economy and our lives would come to a disastrous halt in the developed world, and the lives of billions of people in developing countries will not be lifted out of poverty. While there are both commercial and novel solutions to replace these critical commodities in some product markets, the new capital and scaled deployment needed is in the trillions of dollars, with near equivalent write-offs required for stranded traditional infrastructure.