Global energy investment fell by 2 percent in 2017, the third consecutive year of a decline, according to the International Energy Agency, which sounded the alarm this week , warning that the world is not spending enough on energy. “The overall trend of energy investment remains insufficient for meeting energy security, climate and air quality goals, and is not spurring an acceleration in technologies needed for the clean energy transition,” IEA executive director Fatih Birol said in a statement. Global spending stood at USD$1.8 trillion in 2017, down 2 percent from a year earlier. Much of the decline occurred in the electricity sector, and the IEA declared 2018 “the year of electricity” to raise awareness about the problem. The ongoing electrification of the global economy puts extra emphasis on the need for more generation capacity. The declining investment in coal, hydro and nuclear power more than offset the increased […]