David Livingston, Deputy Director – Climate and Advanced Energy Global Energy Center, Atlantic Council said that future geopolitics will be driven by electrified systems. Oil economy dominated the global politics last century, in the coming days electric economy and systems will rule, he added.
Hyderabad: There is a need for new free trade agreements for green goods among nations as renewable power landscape is changing, David Livingston, Deputy Director – Climate and Advanced Energy Global Energy Center, Atlantic Council, a think tank on international affairs.
Speaking on `Trade and Industrial Policy in the Energy Transition’, organised by the Federation of Telangana Chambers of Commerce & Industry (FTCCI) in association US Consulate General Hyderabad, he said conflicts on critical minerals like chromium and lithium, which find a use in battery technologies, could rise in days to come due to increasing use of renewable energies. New technologies have to be evolved to keep production efficiencies high. The effort should be to lower various barriers in trade, he said.
“The future geopolitics will be driven by electrified systems. Oil economy dominated the global politics last century, in the coming days electric economy and systems will rule,” he said. If oil drove the geopolitics for a century now, it will be electrified systems that will drive geopolitics going forward, said.
US and India can be leaders in energy technology. “Focus should be on making the recycling efficient to reuse critical elements,” he said adding that rise of renewable energy has complicated many of the longstanding dynamics between trade and energy. In the traditional fossil fuel based economy, both suppliers of fossil fuels (such as oil) and consumers of such energy have had an interest in ensuring free, uninterrupted flow of energy in global markets, he said.
Renewable energy, on the other hand, offers a more democratised energy paradigm, one in which conceivably any country can deploy the infrastructure necessary to convert free and abundant resources, such as sun and wind, into productive energy, Livingston said adding that recent tariffs on imported solar panels put in place by India and the United States is as an effort to create conditions conducive to localising production of renewable energy technologies.