The energy sector includes corporations that primarily are in the business of producing or supplying energy such as fossil fuels or renewables. The energy sector has been an essential driver of industrial growth over the past century, providing fuel to power the rest of the economy (Investopedia)
The world will need much more energy to power homes and fuel transport for a growing population with rising living standards. But to counter climate change, energy must increasingly come from lower-carbon sources. Our know-how, technology, and innovations are helping to deliver more, cleaner energy. Urban air quality has become a visible issue and a major catalyst for change. The impacts of climate change and the need for universal access combine, shifts in behavior and investments are driven by broader public awareness or energy issues. For the oil and gas industry, AI can help lower costs, reduce downtime, increase production and asset utilization, and drive efficiency.
Read MoreThe energy industry was first comprised of burning wood and certain oils for heat in ancient times. It has since been under constant change and evolution due to changes in demand. The first major change in the energy industry came with the invention of the steam engine by James Watt in 1769. The first major change in the energy industry came with to invention of the steam engine by James Watt in 1769. The steam engine was run primarily on coal, which increased demand and led to commercial mining and distribution of coal. By the 1800s, coal was the primary energy source in Europe and the United States. Today, with the world’s supply of petroleum decreasing rapidly and can’t be replenished, there is a movement towards alternative fuel sources. Some of these fuel sources are old, including hydropower which was discovered in the late 19th century
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