Almost 60 years ago, in 1966, I arrived at St John’s College, Cambridge, on a scholarship from BP to study physics. This would turn out to be a golden period for the oil and gas industry. Two new frontiers – the North Sea and Alaska – were on the cusp of opening up, and the industry’s reputation as a source of innovation, diplomacy and prosperity was strong.
How times change – both in obvious and less obvious ways. The North Sea peaked long ago, with Britain sadly ever more reliant on energy imports. A fuller understanding of climate change has laid bare the duality of hydrocarbons, with most energy companies far too late in taking action. The focus in most developed countries is now on how to produce more and more energy from zero-carbon sources. This is all part of what is commonly meant by the “energy transition”, which is essential if we are to save humanity from the uncontrollable and destructive impact of climate change on health, food supplies and migration.
