Quote:
Originally Posted by IliketoPuck
"A study by the environmental group Greenpeace"
My apologies, I was wrong. No biases to see here.
Glad to see China and India no longer need oil.
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So you think Greenpeace would bias the report to show China being more green than it is? Do you know what Greenpeace is? If anything Greenpeace is going to be harder on them and more inclined to find flaws in their renewable data.
And no one is saying they no longer need oil. It is saying they're growth needs are being met with renewables but there is a heck of a lot old energy needs that are still using coal and oil on huge scales. They don't even see a peak of their emissions until 2030 and will need oil and coal for many years past that. The point is they are adapting, they are changing their energy use to renewables, and are making progress.
Short term they will probably still show increases in oil demand, but if you are planning on projects that won't start paying off until after 2030, which most new oil sands projects won't, then you have to take into consideration this change in China's energy needs is going to affect profitability in the longer term.