As the world confronts its vulnerability to the closure of the Strait of Hormuz, what remains unclear is when the energy crisis will abate. But what is clear, as speakers at the Atlantic Council’s tenth Global Energy Forum showed today, is that the future of energy systems will look very different from the past, as countries accelerate plans to diversify energy supplies, build more resilient and secure systems, and take the opportunity to define—or redefine—their energy legacies.
Reflecting on the historic moment that the Forum marks, Frederick Kempe, president and CEO of the Atlantic Council, said, “We’re in what we’re calling the demand era, with demand for energy as we’ve never seen it before in our history, speed of technology as we’ve never seen it before in our lifetime, and geopolitical risk maybe as great as it’s ever been in my lifetime colliding. This could turn out extremely well, it could turn out badly, it could turn out somewhere in between. We all have agency in shaping this.”
Indeed, discussions at the Forum show that policymakers, business leaders, and civil society have already begun to set the trajectory for what the future energy system will look like.
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