In some cases, energy supply is resilient because of competing supply options. Colonial’s supply from the US Gulf Coast to the Northeast has natural competition from marine-borne cargoes from Europe, the Plantation pipeline, and the ability to truck. 4/14
Resiliency in power and fuel is a national security concern, which we view as a key impediment to a rapid deployment of power systems with low capacity factor. 8/14
Technologies such as pumped storage offer proven and reliable electricity storage, but, much like geothermal power, are limited in opportunity by geography. 9/14,the%20most%20pumped%20storage%20capacity%2C
Utility scale batteries offer opportunities for short term grid management, but fall short for managing long periods of supply disruption. 10/14
Electrification moves us away from a more easily stored and transported medium of energy to a less resilient one. We view some of the wild optimism of the energy transition as in need of moderation by a sober assessment of technological and cost impediments. 13/14
For this and other reasons (global population growth, “energy poverty” and standards of living), we view the near term demise of oil and gas as unlikely. For more of our thoughts on this matter, see our recent webcast on the energy transition at . 14/14
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