A new Global Energy Perspective Report issued by McKinsey and Company says fossil fuels, especially natural gas, are expected to remain a large part of the country’s energy mix well past 2050. The report also says alternative fuels are not likely to see wide adoption until 2040.
”This year marks the tenth anniversary of McKinsey’s Global Energy Perspective, offering a chance to reflect on the lessons learned over the past decade and to look ahead to the next one.
Two overarching themes emerge from this year’s outlook. First, cost competitiveness and an economically pragmatic energy transition remain paramount. Energy affordability, reliability (including energy security at the national or regional level), and emission reduction continue to form a trio of priorities that drive energy decision-making. However, without affordability—along with bankability—widespread adoption of new low-carbon technologies will not happen.
Second, there is no silver bullet for decarbonization. Countries and regions will follow distinct trajectories based on local economic conditions, resource endowment, and the realities facing particular industries.”
Read the full report on McKinsey.com: https://www.mckinsey.com/industries/energy-and-materials/our-insights/global-energy-perspective
