By Jo Nova
The clean energy revolution is failing, and everyone knows it
In a radical move, the CEO of an oil giant actually defended oil. For a brief moment the space-time continuum opened a worm hole to reality, and leaders of some of the world’s largest corporations briefly said sensible things.
The energy transition is falling apart so fast, even the prime targets of hate, the Big Oil Men themselves, are now openly pointing out what a waste of time and money solar and wind power are. BP was trying to cut oil production 40% until very recently when it flipped to increasing it. But now we have a whole conference of Big Oil.
Saudi Aramco CEO says energy transition is failing, world should abandon ‘fantasy’ of phasing out oil
By Spencer Kimball, CNBC
HOUSTON — Saudi Aramco CEO Amin Nasser said Monday that the energy transition is failing and policymakers should abandon the “fantasy” of phasing out oil and gas, as demand for fossil fuels is expected to continue to grow in the coming years.
“In the real world, the current transition strategy is visibly failing on most fronts as it collides with five hard realities,” Nasser said during a panel interview at the CERAWeek by S&P Global energy conference in Houston, Texas.
We spent trillions of dollars and we have nothing to show for it:
Nasser said alternative energy sources have been unable to displace hydrocarbons at scale, despite the world investing more than $9.5 trillion over the past two decades. Wind and solar currently supply less than 4% of the world’s energy…
Meanwhile, the share of hydrocarbons in the global energy mix has barely fallen in the 21st century from 83% to 80%, Nasser said.
This is the graph he was surely thinking of — the one that shows how irrelevant, inconsequential and trivial the whole “renewable energy transition” has been so far. See that black line…?
OWID https://ourworldindata.org/energy-mix
The free market cut six times as many emissions with energy efficiency measures as the socialists did with wind and solar and billions of your dollars:
The CEO said efficiency improvements alone over the past 15 years have reduced global energy demand by almost 90 million barrels per day oil equivalent. Wind and solar, meanwhile, have substituted only 15 million barrels over the same period, he said.
And they say they care about CO2…
For thirty years it’s been obvious that we could make bigger reductions in emissions by burning coal at hotter temperatures, and using shale gas when we could, but instead of “saving the world” the Eco-Worriers really wanted to prop up their crony industries instead.
Australia is about to bolt headlong into a renewables quagmire that the rest of the world is starting to back away from. Spread the message!