Title : Green Energy -- The Harsh Reality -- March 20, 2018
link : Green Energy -- The Harsh Reality -- March 20, 2018
Green Energy -- The Harsh Reality -- March 20, 2018
This is interesting. When I first started investing in 1984, with an energy- and telecom-weighted portfolio, I always worried that I would not know when to liquidate my energy holdings, expecting that oil and natural gas would come to an end when i was in my early 60's or 70's. Not to worry. It looks like I can hold on to my energy holdings for another 50 years.But before I get to the article, a screenshot from yesterday's Drudge Report:
From oilprice.com yesterday:
I recently asked a group [most likely millenials] gathered to hear me speak what percentage of the world's energy is provided by these six renewable sources: solar, wind, geothermal, wave, tidal, and ocean energy.
Then came the guesses: To my left, 25 percent; straight ahead, 30 percent; on my right, 20 percent and 15 percent; a pessimist sitting to the far right, 7 percent.
The group was astonished when I related the actual figure: 1.5 percent. The figure comes from the Paris-based International Energy Agency, a consortium of 30 countries that monitors energy developments worldwide. [And this is after decades of cajoling, fake news, tax credits, incentives, regulations, federal and state mandates.]
The audience that evening had been under the gravely mistaken impression that human society was much further along in its transition to renewable energy. Even the pessimist in the audience was off by more than a factor of four.
I hadn't included hydroelectricity in my list, I told the group, which would add another 2.5 percent to the renewable energy category. But hydro, I explained, would be growing only very slowly since most of the world's best dam sites have been taken.
The category "Biofuels and waste," which makes up 9.7 percent of the world total, includes small slivers of what we Americans call biofuels (ethanol and biodiesel), I said, but mostly represents the deforestation of the planet through the use of wood for daily fuel in many poor countries, hardly a sustainable practice that warrants vast expansion. (This percentage has been roughly the same since 1973 though the absolute consumption has more than doubled as population has climbed sharply.)
As if to underline this worrisome state of affairs, the MIT Technology Review just days later published a piece with a rather longish title: "At this rate, it’s going to take nearly 400 years to transform the energy system."
In my presentation I had explained to my listeners that renewable energy is not currently displacing fossil fuel capacity, but rather supplementing it. In fact, I related, the U.S. government's own Department of Energy with no sense of alarm whatsoever projects that world fossil fuel consumption will actually rise through 2050. This would represent a climate catastrophe [LOL], I told my audience, and cannot be allowed to happen.
And yet, the MIT piece affirms that this is our destination on our current trajectory. The author writes that "even after decades of warnings, policy debates, and clean-energy campaigns—the world has barely even begun to confront the problem."Much, much more at the link.
Thus Article Green Energy -- The Harsh Reality -- March 20, 2018
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