The new oil. A practical approach to the physics, economics and engineering which enabled our rise and are now shaping the battle to escape our demise.

The following is an analysis of the central role played by energy in the development of human society, the environmental consequences that this development has had and the actions which are being taken to counter these consequences. To support the analysis of an otherwise non-technical paper, the scientific concepts which define energy systems, as well as the technical mechanisms which allow its transformation, storage and deployment are thoroughly examined. This scientific overview is accompanied by historical accounts of the entrepreneurial efforts and corporate strategies which gave rise to the modern energy landscape. After having outlined the current energy balance, focus is placed on petroleum products and electricity, identified as the two main forms of energy consumed. The history and relevant technical aspects of these two forms of energy are laid out to provide an understanding of their rise to prominence and their current functioning. In the second part of this paper, an analysis is carried out of the ways in which our climate is changing, the extent to which these changes are attributable to energy systems, the significance of these changes for human society and the relevance of different technical factors in shaping potential policy responses. In its third part, the paper presents an analysis of the different technologies which are seen as contributing positively to the energy transition; looking separately at stationary energy and mobility applications. Both are found to be heavily dependent on the ability to store electricity, leading to an analysis of storage technologies and, consequently, Lithium. As the raw material at the heart of the most promising developments in electricity storage, Lithium is considered to be fundamental to the energy transition in the case of electric vehicles; accounting for the largest part of the first stage in the value-chain. Its significance is also symbolically and structurally important, as an extractive resource in the value-chain of an industry otherwise committed to shifting away from resources and towards processes. The conclusion seeks to draw on the knowledge laid out over the course of the paper, in providing a set of high-level recommendations to three distinct types of actors, seen as occupying different but equally important roles in the transition: financial investors and corporate managers, policy-makers and climate-change activists.