Ladislaw, Director for the Energy and National Security Program at Center for Strategic and International Studies in Washington DC, made the statement with reference to the energy market.
“There is a new energy paradigm. The change occurred around 2010, so we are well into it,” said Ladislaw, a key speaker at Global Outlook 2017 in Arendal Monday.
She listed five key points that have changed fundamentally from the period 2000-2010 and the period 2010-2017.
- We used to have an insatiable Chinese energy demand growth. Now we have a slowing Chinese energy demand growth.
- We used to have an OECD driven energy economy. Now we have a Non-OECD driven energy economy. In the future, the rapidly developing countries will drive energy demand.
- We have moved from a scarcity and security dominated mindset to a world of abundance across all energy sources.
- Bigger used to be better. Today, resources are distributed.
- We have moved from ‘Climate change 1.0’, which was top down to ‘Climate change 2.0’, which is bottom up.