The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Well, the G7 has come to their senses perhaps? It was never realistic in the forst place.
https://twitter.com/staunovo/status/1404086235845599237
Focusing on oil supply reduction without commensurate demand reduction is a recipe for hyper-inflation.
I see even the Swiss can’t be trusted, given they have now thrown out their own government plans to cut greenhouse gases to half their 1990 levels by 2030, using a combination of more renewables and taxes on fossil fuels. Seems they don’t feel there actions will make much of a difference to the global problem ( and in that they’re right ) and have thus put local economics first. It’s a telling sign.
Chiltings non stop green renewables ramblings on an oil BB is laughable,even though he's green on here for me,the people replying to his tune has made me go out for a drive in my 4.2 litre Sunday car,it all helps gla monkey
https://www.bloomberg.com/opinion/articles/2021-06-13/climate-change-bashing-big-oil-won-t-save-the-planet
Some sensible opinions starting to come to the fore.
Media need to start challenging these hippies.
Chiltings non stop green renewables ramblings on an oil BB is laughable,even though he's green on here for me,the people replying to his tune has made me go out for a drive in my 4.2 litre Sunday car,it all helps gla monkey
Being an eco-warrior must be very depressing, as whilst they can produce all the evidence they like to support their aims, it’s mans greed and money that takes priority. Yes Governments promise but many speak with forked tongue. Listen to Scott Morrison wax lyrically about his concerns for the planet whilst a vocal supporter of Australian coal mining. The recently sanctioned Carmichael coal mine set to initially produce 10mt pa ( but designed to ramp up to 55mt ) has a life span of 60 years !!China’s thirst of coal for power generation is huge & growing, so one can already forget their peak emissions target of 2030. Yes renewables will gain traction but don’t expect much of a helping hand from those nations who still have much to gain from fossil fuels. I’d be depressed myself were it not for being an ENQ shareholder !
Covid has created a false sense that renewables are winning. They aren't but have increased their overall share but then the world economy has been idling for best part of a year. In the fossil world you had to cut your coat according to your cloth which meant closing uneconomic fields whilst subsidised renewables basically had almost zero competition. The test will be now that the world economy is growing. I expect the limitations of renewables to put back the timetable as pragmatists take over and people find out the magic money tree doesn't exist. There are plenty of things that activists want to ban and products that are bad for humanity and they're not all fossil. Take booze. In Islamic countries it is mostly banned but available in some hotels or illegally for instance. To save livers and prevent drunkedness it is also highly taxed. Then there is the fact that all renewables aren't equal. None match fossil for price and density it is the pesky emissions that cause the problem.
Some countries have an abundance of sun or hydroelectric. But that's not much use if you live on the west coast of Ireland or Amsterdam. Hydrogen is brilliant on emissions but lets not mention cost or the challenges of creating a national grid. Nuclear - expensive and some countries just won't have it. Ground and air source heating? Fine but only really works with new builds or extremely costly refurbs. EVs? Let's see. I don't really need two cars but if I go down to one it will not be an EV.
Talk is cheap but in this country we cannot find the cash for care or the NHS but for some reason the environmentalists think they are more important. It is nimbyism at its worst with people expecting somebody else to foot the bill. The majors have been demonised and expected to pay for the executioner's bullet. I do expect common sense to return at some stage.
Renewables have been with us for decades and EV's are over a 100 years old.
I agree the percentage fossil fuels against total energy used may reduce but there is a fair chance as the world pulls out of Covid that overall energy use increases and fossil demand will be at pre Covid levels. The percentage will be lower but with its advantages over renewables it will attract a premium.
Put that in your pipe and smoke it Greta!