Over the last 140 years, burning coal for electricity generation has provided the backbone of economic development, supporting industrialisation and becoming the backbone of an exponential improvement in the quality of life.
Just more than a 100 years ago, the discovery of oil in the Middle East has resulted in similar advances in the quality of life as well as accumulation of wealth, and supports now the world economy to such an extent that seems virtually impossible to break our dependence on it.
Of course, this fossil-fuel-based economic growth was made possible by the 2 to 3.5-fold increase in energy density compared to burning wood for our energy needs. Subsequent economic development has enabled people in developed countries to afford to be more environmentally conscious – and that is a good thing.
However, large parts of the world have been left out of this massive development: wealth gaps have grown to such an extent that countries in Africa and many in Asia will remain dependent on support from developed countries. In fact, energy poverty is the largest limiting factor to economic growth facing the developing world today. Read more…
