IoD response to the Energy and Climate Change select committee’s call for evidence on the impact of shale gas on energy markets.
When trying to forecast the future and what could change the energy sector, the IoD acknowledges that non-linear events can happen and permanence is the illusion of every age. In order of growing complexity and declining reliability the IoD notes that forecasts tend to be divided into three camps;
- Those governed by physical laws – e.g. the sun will come up tomorrow
- Backwards looking statistical methodology – often used by insurance and finance companies
- Divination of trends – if this straight line continues, what happens?
Therefore we have chosen three potentially revolutionary and disruptive technologies - although there are many more - that could be genuinely revolutionary for the sector in the decades to come.
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