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November 2021 - Oil and Gas

83% of people polled in industry-wide energy survey believe fossil fuels will still have a role to play in next decade: An industry-wide global survey by energy solutions company, Aggreko, has found that  83% of respondents believe that over the next decade fossil fuels will still have a role to play, alongside renewable solutions.

The survey of 859 people and businesses related to Aggreko's network sought to develop a picture of  what the energy market might look like in the next decade.

When asked about the energy types that they believe will be the primary source a decade from now, two-thirds of respondents (66%) said hybrid solutions (solar/wind power and fossil fuels combined), followed by sustainable (62% - wind/water/solar).

Three in 10 selected hydrogen (29%), followed by nuclear (27%), bio-fuels (26%), gas (21%), oil (11%) and coal (7%).

The survey also asked respondents how highly they rank the transition to sustainable energy sources as a global business priority, with more than half saying it was their top priority (53%), and a third saying it was in their top three priorities (32%). For 13% it was a top 10 priority, while just 2% said it was not a priority at all. 

Respondents were also asked whether governments and businesses and their own business is moving fast enough in transitioning to sustainable energy sources, with the majority answering 'no' they are not (72%). A quarter believe it is moving fast enough, while 4% said it was 'not important'. 

Nearly two-fifths (38%) said they believe the transition to sustainable energy was a 'significant opportunity' for their business, while 27% said it presented a 'possible opportunity'. On the other hand 6% viewed it as a ‘possible threat’ and 2%, a 'significant threat', although a fifth (21%) said they believe it would be neither, answering, 'neutral'. Around one in twenty (6%) said they 'don't know'.

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