Industry? Intel indicates that 100% of its electricity usage is from renewable sources.
And I fully understand that other power generators in the DR utilize fossil fuels. I have shares of LNG provider Cheniere (LNG) that has been selling LNG to the power generators in the DR for a decade...........weaning them off other fossil fuels and stepping in after the end of Venezuela's Petrocaribe agreement with the DR.
These paradigm shifts take years and/or decades..............but the future is quite clear that countries are shifting more and more to re-newables.......and yes even some countries indicate they provide 100% of their electricity via re-newables.
Does gas, oil, nuclear and coal still have a place in all this......for sure....but that share is shrinking with each new renewable innovation.
Respectfully,
Playacaribe2
I agree with some of what you posted here. Renewables do have a place in certain countries and climates and will result in lower fossil fuel consumption in those countries. Coal fired electrical generating plants in the DR could switch to LNG to reduce emissions and large scale solar energy facilities are reducing fossil fuel consumption.
Check out the latest Shell Energy forecast report. Total World LNG demand is expected to increase by 70% by 2040 compared to 2023. China‘s Demand is expected to increase by more than 50% by 2040 as they switch from coal to LNG. The US is now the biggest LNG exporter followed by Australia, Qatar, Russia, and Malaysia.
On the East Coast, the federal government has approved low carbon footprint offshore oil well production involving billions of barrels of light crude, primarily for the petrochemical markets. More are planned. New pipelines are in place in Canada and the US to transport the tar sands oil, the largest deposit of its kind in the world, to US and Asian markets.
Fossil fuel consumption is not decreasing as more renewable sources come on line, especially in countries where winters are still a reality. It certainly won’t decrease in countries like the US, China, and Russia that rely on heavily mechanized military machinery and weapons to defend their sovereignty. The production of e-fuels and SAF fuels for commercial aircraft can’t meet the current demand and is not expected meet the demand for decades.
Coal consumption will decrease in certain countries like China. Replaced by LNG to meet emission guidelines. Big nuclear has seen its heyday. Large scale plants are too expensive and require long term planning and permitting. Small scale nuclear powered electrical generating plants may be more viable. Hydroelectric facilities are expensive and create major environmental impacts. Oil and gas consumption will, however, continue to increase and power the world and its economies well into the end of this century.
The decline of the Green Parties and their strict environmental agenda in the recent EU elections and the rise of the Far Right Parties with their supposedly more sensible environmental policies was a rude awakening for many EU leaders, especially Macron where he lost by a landslide and had to call an election. The negative environmental repercussions of the EU elections will be felt in the elections in the UK, Canada, and the US.
It‘s amazing how EU farmers protesting new environmental legislation that restricts them from using manure as a fertilizer and forces them to spend more money on manufactured fertilizers generated change in the ballot box. One might say the fecal material finally hit the aerator in Europe.
