What keeps Future Energy Leaders awake at night in 2013?

FELs have created their own World Energy Issues Monitor map 2013.

The World Energy Issues Maps provide an annual assessment of the issues impacting the global and regional energy sector based on the views of the WEC’s energy leadership community. The maps identify the key uncertainties while highlighting the areas where action is most required to enable the sustainable supply and use of energy.

Discover the FELs map below and compare its outcomes with other maps available in the DATA section.

FEL Issues Map

 How to read the Issues Monitor Map

  • Issues with high uncertainty and high impact (“critical uncertainties” – in the upper right corner) include these, which will most benefit from multi-stakeholder dialogue and scenario analysis.
  • The issues on the high-impact/low uncertainty side are these where immediate action finds easy consensus (“need for action” – bottom right).
  • The low impact/low uncertainty ones include issues of perceived lesser importance but also “weak signals” (bottom left), which may be issues that are still badly understood.
  • The urgency of an issue is proportional to the size of its bubble.

 Analysis

The climate framework and mitigating the negative impact of climate change are among the most critical uncertainties for the Future Energy Leader (FEL) community. This is unsurprising given the insolvency of on-going debates around a new “Kyoto” agreement and the lack of collective commitment from countries to address and tackle climate change issues. Future Energy Leaders pay much attention to the development of unconventional energy resources, renewables, and electric storage technologies. The development of these innovative technologies can be expensive and time consuming however; so there is some doubt as to whether they will ever replace conventional resources altogether and meet growing energy demands of the future. Future Energy Leaders place importance on global macroeconomic factors, the rise of energy prices and commodity prices that directly impact development of the energy industry.

The FEL perspective shares a number of parallels with that of the Global Energy Leader. Both communities consider climate framework to be a fundamental global uncertainty. Fluctuating energy prices and the global recession are other key instabilities that jeopardise development of the energy sector and feature in both maps. High growth rates in China and India have increased the demand for energy in the region which will significantly impact the global energy industry. The advent of unconventional resources such as shale oil & shale gas highlights the need for future investment in energy efficient technologies.

Future Energy Leaders identify unconventional, renewables and energy storage technologies as critical issues and should therefore be understood as key drivers for the future. The Future Energy Leaders’ outlook suggests that immediate investment into energy efficient and energy saving technologies is necessary. Recognising and acknowledging such technologies as energy sources of the future will enable global populations to use energy effectively and provide consumers with a reliable, future energy supply at an affordable rate.