OPEC remains defiant. Global reliance on oil and gas will continue unchanged for another quarter century. Fossil fuels will make up 78pc of the world’s energy in 2040, barely less than today.
There will be no meaningful advances in technology. Rivals will sputter and mostly waste money. The old energy order is preserved in aspic.
Emissions of CO2 will carry on rising as if nothing significant had been agreed in a solemn and binding accord by 190 countries at the Paris climate summit.
OPEC’s World Oil Outlook released today is a remarkable document, the apologia of a pre-modern vested interest that refuses to see the writing on the wall.
The underlying message is that the COP21 deal is of no relevance to the oil industry. Pledges by world leaders to drastically alter the trajectory of greenhouse gas emissions before 2040 - let alone to reach total "decarbonisation" by 2070 - are simply ignored.
You can read the rest @
http://www.telegraph.co.uk/finance/economics/12065274/OPEC-faces-a-mortal-threat-from-electric-cars.html
The world's current energy sources are coal, oil, natural gas, nuclear, hydro, and solar.
The bigwigs want to end the use of coal, oil, and natural gas. Hydro is more or less maxed out, and nuclear is and will be a disaster no matter what.
That leaves solar as the only "green" alternative, and it will take a MAJOR redirection of monetary resources to convert the world to an energy diet based on solar.
I don't expect this to happen in my lifetime. Do you?
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