The Energy Trade-Off

Gavekal

Louis-Vincent Gave

Research

6 Pages

Louis-Vincent Gave examines the trade offs between securing affordable, reliable energy and accelerating decarbonization. He weighs near term supply realities against long term transition goals, highlighting policy constraints, underinvestment in legacy fuels, grid bottlenecks, and the rising capital intensity of cleaner systems.

Date Published: October 30, 2025

Key Takeaways

Reliability first: Power systems must prioritize stability as intermittent generation expands and grids face strain.
Underinvestment risk: Years of low hydrocarbon capex leave supply sensitive to shocks and price spikes.
Capital demands: Electrification, storage, and grid upgrades require large, long duration funding commitments.
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