More confusion and uncertainty have been added because old and new technologies and fuels do battle with each other in times of economic uncertainty and increasing geopolitical tensions. Preferred fuels, prices and finance, exploration, transport, trade and of course regulations and subsidies imposed or offered by governments are all affected. While new technological 'break-throughs' keep on being reported, I have also been advised that not too much attention should be paid to their announcement at international conferences. There is an 'industry' out there that thrives on arranging conferences announcing progress. I was reminded of that well-known phenomenon of 'academic tourism' that also tends to live-off announcing break-throughs, new 'findings' and networking opportunities. Geopolitical tensions have not reduced and any Iranian-USA rapprochement remains unclear. The highly praised agreement between Obama and Xi Jin-ping over carbon emissions is likely to be dismissed as window dressing. The loss of the US Senate to the Republicans upsets some energy interests while delighting others. Energy security has become the new buzz-word in energy debates and it will be of interest to note how and by whom this slogan will be used. Nobody as far as I know has as yet discussed the trade implications of 'the energy security' goal should it indeed replace the old favourite of 'saving the planet' by decarbonisation. Yet the green (investment) lobby will not be contained easily. The disinvestment battle against 'dirty' fuels continues but may not make much progress in times of slowing global economic growth, not to mention likely deflation, in the EU.
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