But in fact it had become very cheap.
So cheap, in fact, that the sector had started to feel like the Incredible Shrinking Man, for whom a house spider represented a deadly threat. The most likely survivors were those who had invested in renewable energies early on. UK Energies had succeeded in reversing their fortunes, the French Total group had diversified enough to survive, even though personnel downsizing was rife. High-efficiency solar technology, as developed by Locatelli’s Lightyears, was considered the most trustworthy fuel, alongside helium-3, and there was also money to be made in wind power. On the other hand the Norwegian association Statoil Norsk Hydro was in its death-throes, while China’s CNPC and Russia’s Lukoil gazed dispiritedly into an oil-free future, clearly in culpable ignorance of the now legendary statement of Ahmed al Jamanis, the former Saudi Arabian oil minister: ‘The Stone Age didn’t end for want of stones.’
The problem wasn’t so much that petrol wasn’t needed any more: it was used for plastics, fertilisers and cosmetics, in the textile industry, in food production and pharmaceutical research. Orley’s new-fangled fusion reactors were still thin on the ground; most cars ran on combustion engines, aeroplanes were fuelled with kerosene. The United States was the chief beneficiary of the new resource. The global switch to a helium-3-based energy economy was still years away, that much was clear.
But not decades away.
The mere fact that the so-called aneutronic fusion of helium-3 with deuterium worked in reactors had sent already sickly oil prices through the floor. At the end of the first decade it had turned out that people were not in fact prepared to pay just any sum for oil; if it became too expensive, their ecological conscience sprang to life, they saved electricity and encouraged the development of alternative energies. The notion popular among speculators that the barrel price might be driven up by panic buying had not become reality. There was also the fact that most countries had set aside strategic reserves, and had not had to make any new purchases, that new generations of cars had batteries with generous storage capacities and filled up at sockets on environmentally friendly electricity which, thanks to helium-3, would soon be available in ample quantities. The United States of America, which had turned a deep dark green in the years after Barack Obama’s terms as president, was urging an international agreement on emission reduction, and had discovered the devil in CO2. A few years after the first helium-3-fuelled fusion reactor had gone live, it was also clear that astronomically high profits could be achieved with environmental-oriented thinking. In the course of these developments, EMCO had slipped in the ranking of the world’s biggest mineral-oil companies from first place to third, while the entire sector was threatening to shrink to a microverse. Atrophied by ignorance, EMCO increasingly found itself stumbling, like King Kong just before the fall and, dimly aware that it was doomed to failure, clutching around for something to hold on to, and grasping only air.
Now they’d lost Alaska too.
The drilling plans won through years spent battling against the environmental lobby had to be abandoned because no one was interested in the huge natural gas deposits there any longer. This press conference was barely different from the one they had had to hold in Alberta, Canada a few weeks before, where the exploitation of oil sand was coming to an end, an expensive and environmentally harmful procedure that had given the conservationists nightmares for ages, but which had been feasible as long as the world was still crying out for oil like a baby for milk. What use was it that certain representatives of the Canadian government shared EMCO’s concerns, when two-thirds of the world’s oil resources were stored in this sand, 180 million barrels on Canadian soil alone? The overwhelming majority of Canadians were glad that it would soon be all over. In Alberta, mining had permanently destroyed rivers and marshes, the northern forest, the complete ecosystem. In view of this, Canada had not been able to stick to its international obligations. Greenhouse emissions had risen, the signed protocols were so much waste paper.
‘It can be repaired,’ said Palstein firmly. ‘We’re about to conclude negotiations with Orley Enterprises. I promise you, we will be the first oil company to be involved in the helium-3 business, and we are also in discussion about possible alliances with strategists from other companies.’
‘What concrete offers do Orley Enterprises have to make to you?’
‘There are a few things.’
The man wouldn’t let go. ‘The problem with the multinationals is that they haven’t a clue about the fusion business. I mean, some of the companies have pounced on photovoltaics, on wind and water power, bioethanol and all that stuff, but fusion technology and space travel – you’ll forgive me, but that’s not exactly your area of expertise.’
Palstein smiled.
‘I can tell you that at present Julian Orley is looking for investors for a second space elevator, not least to develop the infrastructure for the transport of helium-3. Of course we’re talking about vast amounts of money here. But we’ve got that money. The question is how we want to use it. My sector is in a state of shock at the moment. Should have seen it coming, you might say, so what do you think we should do? Go down in flames, feeling sorry for ourselves? EMCO isn’t going to achieve supremacy in solar energy, however much we might try to get a foothold in it. Other people are historically ahead of us there. So either we can watch one market after another breaking away until our funds are devoured by social programmes. Or we put the money into a second elevator and organise logistical processes on the Earth. As I have said, discussions are almost concluded, the contracts are about to be signed.’
‘When’s that due?’
‘At the moment Orley is staying with a group of potential investors on the Isla de las Estrellas. From there he will go on to OSS and the opening of Gaia. Yeah.’ Palstein shrugged in a gesture somewhere between melancholy and fatalism. ‘I was supposed to be there. Julian Orley isn’t just our future business partner, he’s also a personal friend. I’m sorry not to be able to take this journey with him, but I don’t need to remind you what happened in Canada.’
With these words he had rung the bell for round two. Everyone began talking at the same time.
‘Have they discovered who shot you?’
‘Given the state of your health, how will you get through the coming weeks? Did the injury—’
‘What are we to make of conjectures that the attack might have something to do with your decision to put EMCO and Orley Enterprises—’
‘Is it true that a furious oil worker—’
‘You’ve made loads of enemies with your criticism of abuses in your sector. Might any of them have—’
‘How are you generally, Gerald?’ asked Keowa.
‘Thanks, Loreena, not bad in the circumstances.’ Palstein raised his left hand until silence returned. His right arm had been in a sling for four weeks. ‘One at a time. I’ll answer all your questions, but I would ask you to show understanding if I avoid speculation. At the moment I can say nothing more except that I myself would love to know who did it. All I know for certain is that I was incredibly lucky. If I hadn’t stumbled on the steps up to the podium, the bullet would have got me in the head. It wasn’t a warning, as some people thought, it was a botched execution. Without any doubt at all, they wanted to kill me.’