02-07-2020, 11:57 PM
(02-07-2020, 09:09 PM)fenders53 Wrote: Need further evidence that making the green transition can be profitable because you are backed politically. Have a look at most all of the successful UTEs. Getting greener every year. Yes they are regulated. Did you notice how fast coal is dying? In much of the world oil is soon to face the same pressure IMO.
I'd just like to touch on the subject that oil and renewable electricity, as in wind/solar etc, have about zero overlap. Do not confuse energy and electricity. About 1% of oil usage in the US is for electricity generation. I expect the rest of the world to be more or less around the same levels. Oil just hasn't been used for electricity generation for years, so the main argument for "green electricity" replacing oil is indeed with electric vehicles. Will that happen in a large scale? In Europe, yes. In the USA, I wouldn't be so sure. In Africa, Asia? Hahah yeah not in our lifetime.
And yes, coal is dying IN THE WEST because of governments outright banning it, or finding alternative ways (taxes) to cripple it. That's the only reason. Worldwide consumption of coal has remained pretty balanced these past few years, mainly due to China's huge increases.
But my point is that even with the current climate frenzy and western governments making massive political moves to "go green", all of this has very limited impact on the demand for oil.