New Energy Report (This report was prepared by 65 technology professionals from 11 different countries, and these individuals predicted together) that coal, gas and oil prices are expected to peak by 2025 and then appear to be significantly reduced. According to the report, it is likely to provide Renewable energy sources at a cheaper price than their counterparts of coal, gas and oil by 2027.
But although this news is good for the environment, the rise in renewable energy use versus fossil fuel decline will not be enough to keep the global temperature limit at less than 2 ° C targeted at the Paris Climate Conference 2015.
Well, reliance on electric power shall increase.Have look on global leader car makers.All of them are almost ready with their electric car versions and this technique shall be refined as the usage increase.
Contrary to the assumptions underlying much of current energy and climate policies, fossil fuels have fallen and may remain at the new “normal” levels. In the medium term, Iran and Iraq have considerable potential to increase their outputs, and the new shale technologies will gradually globalise. Longer term, new technologies in electricity generation, storage and smart demand side technologies, together with electric cars and the shift towards digitalisation and new electricity-based technologies in manufacturing, with increase demand for electricity, but not fossil fuels. These new and emerging technologies, rather than international agreements, and the promotion of current generation renewables, will probably bring fossil fuel dominance to a gradual close. To facilitate decarbonisation, energy policy should be directed at enhancing R&D and next generation renewables, instead of supporting existing ones.
Regarding the public square, it will mean massively different production of vehicles. Regarding geosciences research, I think the field will take a turn toward the early detection and prevention of natural disasters, like volcano explosions and earthquakes.
World economy will be changed. Population would gradually reduce and remain only cropping areas or near by, also type of industries will change. More animals carting will be introduced etc. International travel may very expensive and would be limited, electric cars with limited travel etc.