In this passage a lot is said about the knowledge of God. First it is said that ‘Grace and peace be yours in abundance through the knowledge of God’ (:2). Then we read that through our knowledge of Him, His divine power gives us everything we need for a godly life (life and godliness). Peter uses this phrase because ‘godliness’ and ‘life’ belong together. Both are impossible without truly knowing God.
The apostle Peter says next that God has given His followers everything to serve others, so that all may participate in the divine nature. But this can only be, if we have escaped the corruption in the world caused by evil desires.
Now it is of no use at all to battle the reign of evil desires. The craving for all sort of things from this world will again and again overpower us, as long as we are not utterly convinced of the much higher purpose God has with us, which is that we may participate in His divine nature! That is the calling and election of all who have recognized His call. But only those who give ear and cling to this great calling and wholly devote themselves to it, will find that God delivers on His promises.
If we fully realize this, we will understand why our life with God can still be so terribly unbalanced. This is not something we should simply accept, as often is suggested. The Bible gives us a very different, more hopeful and more dignified message: God says about all who steadfastly confirm their calling, that He Himself will keep them from stumbling.