Introduction

Abstract

Energy is often said to be the lifeblood of modern society. It enables us to fulfill our basic human needs and it powers the world economy. Yet, the energy path we are currently on is clearly unsustainable. Our massive combustion of fossil fuels — that is, oil, coal, and natural gas — unleashes tons and tons of carbon dioxide into the atmosphere, causing the global climate to warm at a destructive pace. Dwindling conventional reserves make these fuels increasingly expensive to extract and force companies to venture into unconventional oil and gas production, which brings with it a host of environmental and social concerns. In addition, the upstream oil and gas sector continues to be associated with corruption, bad governance, and human rights abuses. At the same time, about a quarter of the world’s population lacks access to electricity and to the basic services it provides.