Are we experiencing an energy transition? According to the geologist and fund manager, Jane Woodward, we are – and it’s proceeding more quickly than almost anyone expected. In a dazzling speech Woodward gave at the semiannual conference of Foundation Financial Officers Group (FFOG) in April in Oceanside, California, she set forth a blizzard of facts supporting the idea that renewable energy sources are replacing fossil fuels at a very encouraging pace.
But not everyone agrees. Mark Mills, whom I’ve profiled (and collaborated with) in earlier essays, has said that “there is no energy transition.” And Alex Epstein, the author of Fossil Future, whose speech preceded Jane’s at the conference, doesn’t want an energy transition. Epstein argued that the benefits of fossil fuels are so extraordinary that eliminating them from our energy mix would be tragic.
Who’s right? What are these critics talking about? How should we understand the progress that’s being made toward a post-Oil Age world?
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