The Rise of the State: Profitable Investing and Geopolitics in the 21st Century

9. The Other Energy

Coal, natural gas, and oil will continue to account for most global primary energy use for decades to come. Of the remaining sources of energy, nuclear and hydroelectric are the most important and most economically viable over the next few decades.

Solar and wind power get the most attention as alternative fuels and are often pitched as a means of reducing emissions and weaning the world from dependence on fossil fuels. But alternatives have a decidedly mixed history of success and are unlikely to make a meaningful contribution to global power supplies for decades to come. Nonetheless, aggressive government policies to promote alternatives will generate significant growth in the industry.

British economist John Maynard Keynes ...