Letter from the Chairman
Energy is a “quantitative business,” with the daily worldwide energy consumption currently estimated at 13 to 14 terawatts; the equivalent of 200 to 210 million barrels of oil per day. The United States Energy Information Administration (EIA) forecasts our energy needs will increase by 56% by the year 2040; less than two decades away.
In a list of humanity’s most pressing problems, energy rises to the top, because of its ability to provide solutions to many of the other societal problems such as water, environment, and poverty. Unlike energy, there are no other items on this list, which can generate answers. Energy is unique not only from the perspective that it has the ability to give us answers to most other problems; energy is one of the few problems which we can positively impact with technological developments.