Climate change is said to be driving hotter temperatures, with recent climate data showing that July is on track to be the hottest month in human history. Nations are experiencing extreme climatic events, and a strengthening El Niño pushes temperatures in countries around the world to record highs, exacerbating unprecedented heat waves, fueling wildfires, and triggering storms in ways that climate scientists believe would not be possible without the influence of climate change.
Closer to home, we too, were not spared, as we saw severe flooding in the month of June, followed by high temperatures across both islands in July. All these activities prove that the climate crisis is no longer conceptual, but one that is touching the lives of people all around the world. Scientists say it's clear that climate change is making events such as storms and heat waves more enduring. High carbon emissions from the burning of fossil fuels are blamed for global warming and so oil companies and governments are continuously urged by climate scientists, international bodies as well as activists to accelerate the transition from non-renewable fossil fuels (coal, oil and gas) toward renewables (solar, wind, biomass and hydropower). Yet, fossil fuels continue to play a dominant role in the global energy system.
In the midst of these extreme events, there is some reluctance by leading energy companies to fully commit to decreasing fossil fuel production and cutting emissions. Recent newspaper articles with headlines like ‘Big oil quietly walks back on climate pledges as global heat records tumble’ (The Guardian, July 16, 2023), “Shell CEO calls it ‘irresponsible to cut oil production now (The Associated Press, July 6, 2023) and ‘Shell saves the day’ (Trinidad Express, April 11, 2023) are describing how oil companies are scaling back or withdrawing from their initial targets and commitments to lowering their emissions, explaining how the timing of transition to renewable energy might be premature and increasing their fossil fuel production respectively. These actions contradict the recommendations of the Intergovernmental Panel on Climate Change (IPCC).
However, as transitions to renewable energy strengthen, the challenge is becoming clearer. For example, a review of the costs associated with the transition to renewable energy illustrates that the falling cost of solar panels is proof of the viability of localised energy generation in communities and businesses. Under these conditions, where renewable sources seem to be viable, when energy consumption from renewables becomes intermittent, fossil fuel compensates for peak demand. This may not be a bad thing at the moment, as recent studies indicate that natural gas can be an excellent ally in the current energy transition. This is because of its intense energy production with lower emissions, its ability to be eventually swapped one-to-one with biogas in all technological applications, and the fact that its efficiency can be improved with newer technology. However, as the energy transition advances, less reliance on non-renewables is expected.
The view here is that the energy transition cannot happen by immediately abandoning fossil fuels. The process has to be gradual and carefully considered in order to handle the advancing stages of the transition. This requires new technologies including storage capacity -- for when there’s too much wind and sun, and release in moments when there’s not enough -- and power grid stability and resilience -- which is critical in preventing equipment damage and power outages due to the unpredictable nature of renewable sources, to ensure that renewables are capable of guaranteeing steady energy for supply and demand.
Although moving from fossil fuels to renewables involves a paradigm shift from a well-developed energy system that built economies and improved everyday lives to an intrinsically uncertain scenario, the worsening global climate crisis should give impetus to oil companies and governments to commit and strengthen investments in renewables. These entities must understand the challenges we face or risk pushback later when the world has even less time to lose.
Furthermore, though renewable energy is touted as emission-free and less polluting, we must consider that in developing its use to levels that can handle national and global energy supply and demand, other aspects of the environment are not compromised, for example, deforestation, where trees are felled for wood to produce biofuel, and changes in biodiversity to accommodate both onshore and offshore solar and wind farms. Hence, journeying towards an energy sustainable world should not be a fixation on an energy source, but should be guided by continuous research insights. Oil companies and governments should make balanced decisions to do the right things and do things the right way.
