why my future in the energy industry is bright

Energy: A Bright Future Through Diversification The energy industry has been a lucrative and growing one for generations, and will continue to be so in the future. Multiple sectors depend on the robustness of the energy industry for their long-term success, ensuring the relevance of and reliance on the energy business for the foreseeable future. From space exploration and military technology to utilities and essential services, quality energy sourcing, processing, generation, and distribution are all crucial to life on earth.

Furthermore, the world's population is growing at an alarming rate, necessitating new products, services, and innovations to fit growing energy needs. The industry's ability to adapt to change, mitigate risks, and manage market forces makes it certain that my future in the energy field is a bright one. Granted, a "massive transformation" is predicted for the future of the energy industry due to the boom in solar projects around the world, coal plant closures around the world, and "ultra-low oil prices," (Fehrenbacher 1).

These are a few of the challenges the energy industry faces, and will continue to face with aplomb. The future of the energy industry depends on its industry leaders to work with the forces of change rather than against them, using change as an opportunity to address our shortcomings, bolstering our ability to provide cleaner, more efficient, and more sustainable solutions for the future. Working with governments and private sector organizations to transform the energy industry will ensure that our diversification will become our greatest strength.

The following illustration reveals only a few of the currently prominent energy sources. Current threats and challenges to the energy industry include reduction in prices of crude oil, energy policies that are pushing the industry toward forced diversification, and changing consumer demands around the world. The energy industry is ready and able to respond to these challenges with diversification and strategic partnerships with the public and private sector.

Diversification is in fact the key to the industry's success, and the industry has already responded to the challenge by embracing a wide range of energy sources, technologies, and business models for distribution. Even as the energy industries shift away from non-renewable sources like coal, coal does remain relevant in some geographic regions like India (Fehrenbacher). Nuclear is also burgeoning in some regions due to the low emissions presented by nuclear.

Part of the reason why my future in the energy industry is bright is because the world's diverse energy needs are being met with a wide range of energy products and services. Yet renewables are not the only part of an energy portfolio. As Nyquist points out, "reports of oil's death have been greatly exaggerated...oil isn't running out," (1). My future in the energy industry is bright in part because I recognize the value of diversification.

Demand for oil and gas will continue to increase for decades to come, due to global population growth and industries in countries like China and India. However, demand for oil and gas will gradually diminish as renewable energy sources rise (Helman). In fact, a "growing world population from 7 billion people today to 9 billion by 2050 will need much more energy -- in particular as most of these people will aspire a life like we have here in North America," (Helman).

Renewables will provide the solution for promoting growth and economic development while complying with emissions standards and the shifting demands of consumers. The growth in oil demand in developing countries has yet to be offset by the decreased demand for oil, and the notably decreased dependence on cars in Western Europe and North America (Helman). Furthermore, investors in a variety of industrial sectors are distancing themselves from energy companies that are not diversifying (Helman).

Therefore, the energy industry does need to include in its diversification portfolios renewables that are profitable and pragmatic. Globally as well as in the United States, tax credits are becoming more common for solar; these tax incentives and government policies coupled with lower prices on solar panels has been driving the energy sector towards solar in particular (Fehrenbacher). By some estimates, "solar will account for 35% of new power generation infrastructure built out over the next 25 years," (Fehrenbacher).

Therefore, my future in the industry depends on knowledge and information sharing in the exciting realms of renewable energy. Renewable energy is part of every energy company portfolio, regardless of its regional focus. According to Bocca, "clean energy investments hit a record high of close to $330 billion in 2015, nearly six times higher than in 2004, with around one-third of it in China," (1). The future of the energy industry consists in working with innovators and technology developers around the world to stimulate research and development.

Advancements in battery storage technology, spearheaded in part by companies like Tesla, are helping to promote a bright future for energy. Even fracking and other politically unpopular methods of extraction of natural gas like Canada's oil sands may play a role in energy diversity, so long as the technology is pursued sensibly and sustainably. As Cordeiro points out, the future of energy requires collaboration with various disciplines as diverse as nanotechnology, biotechnology, and even information technology and cognitive science.

Collectively referred to as the NBIC technologies, nanotechnology, biotechnology, information technology, and cognitive science "have dramatically improved the human condition by increasing the availability of energy, food, and water and by connecting people and information anywhere, anytime," (Corderio 1). Energy industry partners can look forward to fascinating new developments relying on NBIC contributions. The following diagram reveals the interconnectedness of all industries, and their dependence on energy for their strategic solutions. Innovation remains our core strength and strategic response to threats.

Current threats include energy-related policy, but while such policy proves a temporary impediment to industry growth, ultimately clean energy policies drive change, demanding our commitment to research and development into renewables. Another threat includes the potential for innovation to lag behind demand, which is why my future in the industry depends on our personal commitment to growth via creative solutions and strategic partnerships. Threats to the energy industry can and will be offset by intelligent responses, including diversification and innovation. The chart below illustrates how the.