ABSTRACT
The two “energy shocks” of the 1970s, a decade in which oil prices jumped by a factor of about ten, led many to the mistaken conclusion that fossil fuel shortages were imminent and that an immediate transition to renewable energy was necessary. Analysts of energy futures in the contemporary era look with special attention at the environmental consequences of energy use. This chapter considers what forecasters say about each of the aspects of the energy system. The transformations required to provide energy for the burgeoning global economy seem almost unimaginable. And the environmental impact of the energy system looms large. Most of the energy system seeks to supply that energy demand through a set of negative feedback loops. The key issues in the energy system are the level of demand, the nature of the supply pattern available to satisfy that demand, and the possibility of short-term supply disruptions.
