Interview
Britt Harris, President, CEO and CIO of UTIMCO
- The macroeconomic era of disinflation, deregulation, and lower taxes (1980–2020) concluded around 2020, accelerating into a new environment where government is prioritized as the solution and business viewed as the problem.
- A 30-year transition toward energy independence is projected, requiring $60 trillion in global renewable spending (approximately $2 trillion annually), though hydrocarbons are expected to retain roughly 50% of the total energy mix through 2045–2050.
- Solar energy is the primary growth vector in the United States, while wind energy is expected to remain stagnant and other renewables are limited by regulatory constraints.
- Natural gas and other hydrocarbons will remain significant components of the evolving energy landscape despite current emissions reductions over the past 10 to 15 years.
- The first phase of the renewable transition focuses on technology development and infrastructure installation, with mixed net present value outcomes expected as technology readiness is anticipated to improve over the timeline.
- Millennials, currently five years behind previous generations in career progression, are predicted to assume primary influence for the next 40 years, mirroring the 40-year dominance of the baby boomer generation.
- Operational standards regarding work ethic are maintained following historical investment losses, with a specific commitment to internal accountability practices established from that period onward.