Quote:
Originally Posted by Leondros
If the money was there, and it made economic sense to do so, we would be getting it done. O&G companies are divesting of all of their green projects right now because they don't make economic sense, green energy companies are tanking on the stock market because they are not as profitable as most hoped and wealthy countries have no desire to give hand outs to power countries.
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I just had another thought about this, as you hear it often. The energy transition is happening so fast that I don't think people realize where we're at.
This is from the IEA (notoriously slow at seeing where the transition is at):
-Five years ago, for every dollar spent on oil and gas one dollar was spent on clean energy. It's now 1.7 to 1 and widening fast
-by next year or 2025, more will be spent on solar development alone than oil production.
The point I'm making here, is that the money
is there and they
are getting it done. The issue is speed. We don't have 4-5 decades like the last transition, so we need to speed things up.