Rise of renewables may see off oil firms decades earlier than they think

Mon, 21 Oct 2019 03:05:11 +1100

Andrew Pam <xanni [at] glasswings.com.au>

Andrew Pam

"The world’s rising reliance on fossil fuels may come to an end decades
earlier than the most polluting companies predict, offering early signs
of hope in the global battle to tackle the climate crisis.

The climate green shoots have emerged amid a renewable energy revolution
that promises an end to the rising demand for oil and coal in the 2020s,
before the fossil fuels face a terminal decline.

The looming fossil fuel peak is expected to emerge decades ahead of
forecasts from oil and mining companies, which are betting that demand
for polluting energy will rise until the 2040s.

But energy experts are adjusting their forecasts as clean energy
technologies, including wind and solar power, emerge faster than
predicted and at costs that pose a direct threat to coal-fired
electricity and combustion-engine vehicles."

Via Glyn Moody, who wrote "remember: anyone investing in #FossilFuels
fuels is holding #strandedassets, and will [lose] massive amounts of money"

        *** Xanni ***
mailto:xanni@xanadu.net                   Andrew Pam
http://www.xanadu.com.au/                 Chief Scientist, Xanadu
http://www.glasswings.com.au/             Partner, Glass Wings
http://www.sericyb.com.au/                Manager, Serious Cybernetics

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