Robert Lyman (Financial Post);
The International Energy Agency, in its reports on energy financing, breaks down global energy investment into investment in fossil fuels, on the one hand, and in “clean energy,” on the other. In 2023, estimated investment in “clean energy” will be close to $2.2 trillion (in C$). That is an almost unimaginable amount of money, made only slightly less daunting when portrayed as $6 billion per day. […]
What has been the result of these gargantuan expenditures? The effects of current investments in electrical energy infrastructure won’t be fully apparent for some time, but we should be able to see the effects of spending that has been rising for more than 20 years. To find out, I consulted the authoritative Statistical Review of World Energy 2023, published by the Energy Institute, the successor to British Petroleum as the producer of the Statistical Review. It works closely with KPMG to produce the report.
The share of the world’s primary energy consumption produced by renewable energy has essentially doubled since 2015, from about 3.5 to seven per cent of the world total. Yet, fossil fuels (oil, natural gas and coal), which accounted for 85 per cent of primary energy consumption in 2015, still accounted for 82 per cent in 2022. At that rate of reduction — three percentage points every seven years — we will not get to full decarbonization (i.e., zero use of fossil fuels) until well into the next century.
As usual, the news is buried in the opinion pages.
Related: Whoppers and moer whoppers in the WSJ
“At that rate of reduction — three percentage points every seven years — we will not get to full decarbonization (i.e., zero use of fossil fuels) until well into the next century.”
That’s assuming we could possibly maintain that rate, which we can’t, because all the best practical wind and solar sites are already developed. As always, their only real solution is to put us all in Soviet style apartments, no personal transport, eat bugs etc.
I like the “climate crisis” government ad within the piece that shows windymills on a tree-covered ridge that appears to be covered in snow, ice or frost.
It seems like a poke to me.
As for the cost, the Leftists who brought us MMT don’t understand and if they did, wouldn’t give a shit. Meanwhile, millionaires and billionaires have been made and they all have backup generators at home.
homes on the seashore . in defiance of the one inch per century sea rise
this is the moment , when the seas cease to rise . Bambam the magic negro.
All liars, each and every one. I do not need to expand the thought.
Yup buried in the financial section, alright. And even then the NP lacked the courage to give it an honest headline. Meagre gains, my arse.
Whatever.. Make it convenient and affordable and I will fuel my life with anything.. I have no love for carbon.. What I’m not looking for is a delusional downgrade so you can pretend to save the world..