Can entrenched energy systems undergo rapid changes?
The world’s energy infrastructure — with its massive generating plants, mines, refineries, electric grids, and gas stations — is often likened to an aircraft carrier: Trying to change its direction is a slow and difficult process. But at times, such changes can take place with surprising rapidity, as some speakers pointed out at this year’s MIT Energy Conference.One stunning recent example, author Daniel Yergin said, has been the change in the natural gas industry with the twin technologies of horizontal drilling and hydraulic fracturing (commonly known as “fracking”). Just a few years ago, he pointed out, the assumption was that the United States was running out of natural gas and would need to begin importing the fuel. Now, instead, there are sufficient reserves not only to meet the nation’s own demands, but likely enough to begin significant exports.Similarly, Yergin pointed out, new technologies for the extraction of shale oil have...