Energy transitions involve changes in lives and livelihoods, which go far beyond the limited technical questions of the source and supply of energy. Transitions disrupt employment and incomes, imposing substantial and concentrated costs on particular families, industries and communities. They create big losers as well as winners.
This is the market.
energy supply is among the largest employers and the most basic of all sectors, providing inputs to every other sector of the economy, transitions are among the most disruptive of all technological changes. Losers of a change in the energy system or other technologies are expected to find new jobs, by changing industry and sometimes location, with limited financial assistance.
So the transitions are usually discussed in fairly technical terms: comparative costs, reliability, security of supply, visual impact, air pollution and carbon emissions. Transitions aren’t just about cost, convenience, and safety; they always also concern individual lives and communities. They are inherently political as well as technical………..
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Commodities strategist, expert in supply chain market, procurement, forex and advisor Stablecoins. www.goldencross.io