The future of energy: More efficient, more sustainable, and more important than ever
Published: September 28, 2017
Our advancements, interests and passions are underpinned by energy, Al Monaco tells Illinois Chamber of Commerce
There’s no definitive crystal ball for the 2040 energy landscape.
But our energy future will be more efficient, more sustainable, more affordable, more abundant, more diverse—and more important than ever, Enbridge President and CEO Al Monaco told the Illinois Chamber of Commerce in Chicago on Thursday.
With global energy appetite expected to grow 30 to 40 percent by 2040, “today energy is increasingly shaped by demand, consumption and end use. It’s about getting the kind of energy we want, when we want it, and the way we want to get it,” said Mr. Monaco.
“People are now thinking about the energy space,” he added. “There’s no shortage of scenarios . . . but there’s a lot on the line.”
The energy sector is now challenging itself to be more efficient, more effective, and more proactive in the area of environmental protection, said Mr. Monaco, who predicted that our energy future will be characterized by:
- A new era of cost competitiveness, driven by technology;
- Higher efficiency, driven by consumer trends and behaviors;
- Enhanced sustainability, as a result of emissions targets, climate policies, and carbon pricing;
- An all-of-the-above global energy supply, including both conventional fuels and renewables; and
- Greater global connectivity, which would boost North America’s latent competitive advantage in providing low-cost energy.
Building and maintaining the public’s trust, and creating a tangible and emotional connection to energy, are critical to building that energy future through necessary infrastructure.
After all, noted Mr. Monaco, nearly all of our advancements, our interests and our passions—technology, sports, health care, recreation, transportation, entertainment—are underpinned by energy.
“Energy is a given. It’s always there. We don’t think about it—it’s just not that exciting to most people,” he said. “In fact, more and more, people view energy as a problem. It’s ironic, because energy pervades every aspect of our lives—and in a very positive way.”
The full transcript of Mr. Monaco’s address to the Illinois Chamber of Commerce is available on the Enbridge.com website.
