Energy Revolution to Reshape Global Landscape Over Next 30 Years

Meanwhile, renewable energy sources such as solar and wind are approaching cost parity with oil. Solar power, for instance, has seen its price per watt drop from $8 to a tenth of that in the past decade. Additionally, nuclear energy—despite controversies—continues to be developed, with next-gen reactor designs claiming far greater safety and reduced nuclear waste.

Yet, while clean energy helps mitigate global climate change, new disputes over rare resources used in batteries, photovoltaics, and other components will emerge. The decline of the oil economy may trigger severe economic and social instability in the Middle East and North Africa, further escalating local armed conflicts.