Human societies use complexity \u2013 within their institutions and technologies \u2013 to address their various problems, and they need high-quality energy to create and sustain this complexity. But now greater complexity is producing diminishing returns in wellbeing, while the energetic cost of key sources of energy is rising fast. Simultaneously, humankind\u2019s problems are becoming vastly harder, which requires societies to deliver yet more complexity and thus consume yet more energy. Resolving this paradox is the central challenge of the 21st century.<\/p>\n\n\n\n

The increased consumption causes a greater demand for energy. For example, to meet this demand, 64 million barrels per day of additional oil production capacity must be brought on stream by 2030. <\/p>\n\n\n\n

One way we have attempted to resolve it is by reducing redundancy. For example, two companies make all large jet liners. Three companies make all jet engines. Four companies make almost all microprocessors. If we were do talk about companies that make tires, glass bottles, sparkplugs, etc.. you would find the same situation. <\/p>\n\n\n\n

Here is his talk:<\/p>\n\n\n\n