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This lecture covers the energy trilemma, global energy markets, energy use vs income, geopolitical impacts, investment and subsidies in energy, gas prices, energy market, energy prices, environmental impact, energy policy, climate change, consequences, fossil CO2 as a pollutant, temperature increase, global warming gases emissions, IPCC SR15 report, world carbon budget, CO2 emissions of a Swiss citizen, energy problem, renewable energy potential, integration of biomass in district systems, decarbonization of the Swiss energy system, and conclusions on energy management.