NO ENREGY; NO PARTY .......
Energy Transition? What
Unfortunately, the more fundamental evidence doesn’t support that hope that global energy use will decline meaningfully in the foreseeable future. The global population increases by about 1.1% each year. Each of those 80+ million people uses energy. The standard of living differential between economically less developed countries and the more advanced economies is stark, and standards of living do rise, which entails more energy consumption.
Murray Stahl. Chairman/CEO/Chief Invsmt Ofcr, Horizon Kinetics LLC
My Take:
Unless we are going to change the way we live, or we will prevent to poor to improve their lives we will need all sources of Energy. ALL
Even on 2020 the world consumed 91 million oil barrels a day. 91 million!!!
Steve St.Angelo says the world to consume 100 million barrels a day is like driving a car at 100 miles an hour, you can but it's not good for your car and your safety. We are going too fast. The world is going too fast.
Since solar & wind are so unproductive technologies we can't replace oil & nuclear even if we cover the world with solar panels.
These Renewable energies are not renewables, everybody knows that solar panels go to scarp every 15 years and wind blades become ineffective sooner than that. We need to mine cobalt, lithium to build these panels they are not renewables.
Conventional oil peaked in 2005
Unconventional oil is doing things that are really not good for the envoirment , injecting water and sand and fracking etc.... productivity is falling rapidly
Deep water drilling is difficult and expensive
solar & wind are unreliable and are not renewable
If we want to keep living the way we live and permit the poor to have what we got one day we will need to:
1.Invest in saving energy technologies
2.Invest in Nuclear (but nuclear needs lot's of rare materials & huge investment )
3.Invest in small solar & wind
4.Invest in fossil
Despite this I believe we are going to slow down , yes we are going to slow down. No Energy no party, you can invest in all the energies with high EROI that you will make money. Even in wind and Solar very low EROI you might make some money.
how is this going to happen? The price of energy is going up if we try to stop investments in the most productive energy (oil, nuclear etcc... ) it will be faster.
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