Is that the dark smell of desperation?

Green energy is so essential and profitable that when the chips are down, investors ran a mile.

IEA: COVID-19 crisis causing the biggest fall in global energy investment in history 31 May 2020

The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report.

The unparalleled decline is staggering in both its scale and swiftness, with serious potential implications for energy security and clean energy transitions.

global investment is now expected to plummet by 20%, or almost $400 billion, compared with last year, according to the IEA’s World Energy Investment 2020 report.

Not only has the money gone, but renewables have been out-competed at the thing they are supposed to do best.

The Global Pandemic is the world’s greatest carbon reduction program since the Black Plague:

Those short-term benefits [of the Coronavirus] have been substantial. Consumption for jet fuel and gasoline, for example, declined by 50 and 30 percent, respectively, from early March to June 7, while electricity demand […]Rating: 0.0/10 (0 votes cast)

via JoNova

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June 23, 2020 at 01:33PM