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sequestration capabilities, and install 3,700 to 17,800 wind turbines of four megawatt<br />

capacity.<br />

Transforming the energy system will take time. Energy use and mix evolve slowly due to<br />

the vast size of the global energy system. As shown in the chart below, biomass like<br />

wood was the primary fuel for much of humanity's existence. Coal supplanted biomass as<br />

the primary energy source around 1900; it was not until the middle of the 20 th century<br />

before oil overtook coal as the primary source of energy. We believe the transition to<br />

lower carbon energy sources will also take time, despite rapid growth rates for such<br />

sources. Traditional energy sources have had many decades to scale up to meet the<br />

enormous energy needs of the world. As discussed above, renewable sources, such as<br />

solar and wind, despite very rapid growth rates, cannot scale up quickly enough to meet<br />

global demand growth while at the same time displacing more traditional sources of<br />

energy.<br />

Energy Use Evolves Over Time<br />

Global Mix of Fuels<br />

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