Lloyds and Chatham House on peak oil

Lloyds, the insurance underwriters and Chatham House, the international think tank have collaborated to produce a new report called Sustainable Energy Security: strategic risks and opportunities for business. Note this is Lloyds of London - not FoE - perhaps should now be Transition Lloyds? - incredible

The summary lists 7 main points

1. Businesses which prepare for and take advantage of the new energy reality will prosper – failure to do so could be catastrophicNB this is Lloyds of London (to be renamed Transition Lloyds perhaps?) not FoE - incredible.

2. Market dynamics and environmental factors mean business can no longer rely on low cost traditional energy sources

3. China and growing Asian economies will play an increasingly important role in global energy security

4. We are heading towards a global oil supply crunch and price spike

5. Energy infrastructure will become increasingly vulnerable as a result of climate change and operations in harsher environments

6. Lack of global regulation on climate change is creating an environment of uncertainty for business, which is damaging investment plans

7. To manage increasing energy costs and carbon exposure businesses must reduce fossil fuel consumption

8. Business must address energy-related risks to supply chains and the increasing vulnerability of ‘just-in-time’ models

9. Investment in renewable energy and ‘intelligent’ infrastructure is booming. This revolution presents huge opportunities for new business partnerships