In this episode we take a deep dive into the future of energy and why the world is going to need more affordable, reliable energy like oil & gas in the coming decades – not less.

What do you think? Have another idea of what our energy future needs to look like to avoid human suffering? Send us a note to: feedback@mineralrightspodcast.com!

If you own minerals & royalties and have ever wondered if we will stop using oil & gas in your lifetime, this is a must listen (and watch – be sure to check out the accompanying YouTube video below):

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We Need More Energy, Not Less

Since the beginning, humans have consistently progressed to more energy-dense fuel sources over time, from wood and biomass to coal, oil, natural gas, and nuclear power. Counterintuitively, recent efforts have focused on renewable sources like wind and solar which are actually lower density energy sources. As the global population grows, we will need more energy than we use today.

Energy Poverty

The statistics on current global energy poverty are sobering. An estimated 2.3 billion people still lack access to clean cooking facilities, leading to 3.7 million premature deaths per year from cooking with polluting sources like wood and coal. Nearly 800 million people remain without access to electricity.

The Energy Transition

In this episode, we analyze forecasts like JP Morgan’s “Electrification 2035” vision of dramatically scaling wind, solar, and batteries to power everything electrically. We explained why such projections rely on science fiction-level advancements in affordable energy storage that don’t exist today. Germany’s failed attempt to rapidly transition to renewables showcases the economic destruction that can result from prematurely abandoning reliable baseload power sources.

That said, it isn’t all doom and gloom. Nuclear power, which produces zero emissions and has ultra-high energy density, is essential for any realistic path to reducing carbon emissions while still meeting rising global energy demand. With new technologies like small modular reactors, nuclear could be quickly and safely scaled.

How Much Oil is Left?

Looking at current reserves of coal, oil and natural gas based on today’s consumption rates, the data suggests we have enough oil & gas to last to 2050 and beyond. New innovations in extraction methods and enhanced oil recovery techniques are likely to extend the lifespan of oil & gas even further. The latest models forecast fossil fuels remaining a significant part of the global energy mix through at least 2050.

Rather than rapidly defunding or prohibiting fossil fuels before scalable replacements exist, we should responsibly utilize these affordable energy sources in the near-term to raise living standards globally. In parallel, new nuclear capacity and carbon capture/sequestration projects can realistically reduce emissions over time without compromising energy reliability and economic prosperity.

Summary

Climate change, while a challenge to manage, pales in comparison to the catastrophic human suffering that would result from a premature forced energy transition lacking sufficient baseload power sources. Affordable, reliable energy access remains inextricably linked to extending lifespans, reducing poverty, and promoting human flourishing. The ultimate solution involves thoughtfully balancing economics, sustainability, and human welfare rather than dogmatically pursuing renewable energy sources not yet capable of reliably powering modern civilization. What do you think?

Resources Mentioned in this Episode

• MRP 73: Alex Epstein and The Moral Case for Fossil Fuels
• MRP 171: How Long Will the Energy Transition Take?
• MRP 114: The Dark Side of the Energy Transition and the ESG Movement
• Liberty Energy Bettering Human Lives Report
• Energy Talking Points – Alex Epstein

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