The majority of the world's transport is powered by oil (photo: dpa)

Renewables - an alternative energy source to replace an increasingly fragile oil supply

The world urgently needs to address its growing hunger for oil and it needs to search for alternatives with the political drive and conviction that saw many governments readdress their nuclear policy in the wake of Japan’s Fukushima disaster in 2011.

OIL IS the blood of the global economy. It powers 94 per cent of the world's transport.

Many believe this will change when e-mobility (electric-powered transport) becomes the clean substitute for oil. However, the International Energy Agency (IEA), in its latest World Energy Outlook, predicts that by 2035 some 88 per cent of all transport will still be fuelled by oil.

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Dr. Friedemann Mueller
These regions will eat up their reserves more quickly than the Middle East and the OPEC countries. Therefore the reserves will be concentrated in an increasingly smaller number of countries
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