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Title : Agree Completely: Even Rapid Transition To Lower-Carbon World Won't Kill Demand For Crude -- BP -- February 14, 2019
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Agree Completely: Even Rapid Transition To Lower-Carbon World Won't Kill Demand For Crude -- BP -- February 14, 2019

From Financial Times:

Global oil demand will prove resilient over the next two decades even if ambitious targets set in the Paris climate change accord are met and the adoption of renewable energy is “off the charts,” according to BP’s annual energy outlook. I

In a “rapid transition” to a lower-carbon world, set out by the UK oil and gas company on Thursday, demand for crude would only drop 20 per cent by 2040. The scenario included the most efficient use of energy by industry and buildings, increased electrification of transport and radical policies to clean up the power sector.

“Oil is playing a major role in the energy system out to 2040 . . . even with renewables off the charts,” said Spencer Dale, BP’s chief economist. “The level of understanding about the arithmetic on some of this stuff is not as high as it could be.”

Exxon has been saying this for decades. By the way, that BP story above -- that seems like a shift in editorial policy from BP. For the past several years BP has been beating the drum for renewable energy.

Happy Valentine's Day. Looks like Schelosi will sene President Trump a valentine care with $1.5 billion to continue building the wall.

Solar contraction:

Massachusetts lost 1,320 solar jobs last year, trailing only California, as the industry suffered its second straight year of falling employment, according to the Solar Foundation's annual jobs census. Massachusetts also fell to third among states in solar jobs, with 10,210, ceding the spot to Florida, which added 1,769 jobs to bring its total to 10,358. The report said installations of solar panels in Mass. were held back by the introduction of demand charges, the minimum price that solar panel owners pay to utilities per month, and uncertainty surrounding the state's SMART program, a newer form of state-sanctioned subsidies to reimburse solar panel owners that is somewhat less generous than a previous program. -- s/ Chesto, over at The Boston Globe.

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