EIA and IEA are out with projections for emissions and fossil gasoline consumption. They usually don’t look good.
On our present coverage trajectory, there isn’t any peak in sight, in line with EIA By 2050, we are going to possible see a 50% enhance in power consumption. And although renewables would be the fastest-growing new supply of power, hydrocarbon liquid fuels will meet the vast majority of demand.
Meaning emissions might rise by means of 2050, absent large adjustments to coverage.
In July, the Worldwide Vitality Company issued the same evaluation exhibiting that carbon emissions will hit document ranges within the coming years. And that spending packages world wide — even at historic ranges — are nonetheless not sufficient.
How can we make sense of this sobering evaluation?
Plus, Wooden Mackenzie is out with a brand new evaluation of world power storage traits, exhibiting that storage deployments are set to triple this yr. Most of that progress is coming from America and China, which account for 70% of installations. What are the functions, applied sciences and markets that can dominate this progress?
Lastly, Europe is in a disaster headed into winter. Pure gasoline is the second-most confused gasoline in Europe — and costs are 6 occasions greater than they had been within the spring.
A confluence of things — quickly rising demand suddenly, decrease manufacturing than anticipated from Russia, low storage in Europe, lower-than-expected hydro and wind manufacturing — are contributing to the issue.
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