A note on the Offshore Europe Conference (Aberdeen 8-12 Sept. 2015) "Keynote Session 01: The Challenge of Our Generation" which states: "The challenge of our generation: balancing security of supply and affordability, while mitigating climate change and managing environmental and social risks."
Four points mentioned in one sentence, as if of equivalent importance. They're not.
Security Of Supply
On Failure: Inconvenience to humans. Trouble for some industries.
Solution: interestingly- renewable energy. Oil, a traded commodity, can never achieve the "security of supply" solar panels or wind generators can.
On Failure: alternative sources will replace oil/gas through the market mechanism we say works. On balance not even inconvenience caused if we don't unnecessarily tie affordability together with social aspects, see 4th point.
Solution: interestingly: accelerated development of renewable energy! (see Devex2015 for price development)
On Failure: catastrophic destruction of human habitat and human and natural life
Solution: renewable energy, and using less energy overall. Stop burning carbon.
Environmental and Social Risks
On Failure: destruction of human and natural habitat. Social collapse, gradual or revolutionary.
Solution: Less corporate influence over environmental regulations
Only a cynical marketeer would come up with this corrupt phrase. What does this say about an industry regurgitating it?
Erik is a physicist, ocean sailor, petroleum engineer, climate change student, and public speaker and writer.