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Author Topic: Fossil Fuel Profits Getting Eaten Alive by Renewable Energy!  (Read 6067 times)

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AGelbert

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Why an Oil Glut May Lead to a New World of Energy

Posted on Aug 14, 2015 By Michael T. Klare, TomDispatch

http://www.truthdig.com/report/item/why_an_oil_glut_may_lead_to_a_new_world_of_energy_20150814

Agelbert Comment:

The causes attributed the drop in crude in this article lack one very important cause. The Rocky Mountain Institute has written about it. It's called DEMAND DEFECTION from new Renewable Energy coming on line.

Already, utilities are using less fossil fuels to generate energy because of DEMAND DEFECTION.

The Economics of Grid Defection - Distributed electricity generation, especially solar PV, is rapidly spreading and getting much cheaper. Distributed electricity storage is doing the same, thanks largely to mass production of batteries for electric vehicles. Solar power is already starting to erode some utilitiesí sales and revenues.

Itís time to take the Clean Energy Would Kill the Economy show off the air once and for all.

And it is HIGH TIME we stopped calling oil an asset.

Renewable is the cheaper energy option without fossil fuel and hidden nuclear subsides.

Fossil Fuels are a LIABILITY. Using LESS of them DOES NOT "kill" the economy; it STRENGTHENS IT!

WHY? Because, while Renewable Energy increasingly takes up the energy slack, we reduce having to EAT the "externalized" costs to the environment and human health from using dirty energy.

The more I thought about climate change, the more I realized I had to do something other than publish my studies in scientific journals.

These results will not be welcome news as there are many with short-term vested interests that will want to ignore them. The Reason Brain Diseases Have Quadrupled in 21 Years.

Asset Mangers agree. Fossil fuels are a BAD INVESTMENT!

"Analysis of historical data shows that over the past seven years eliminating the fossil fuel sector from a global benchmark index would have actually had a small positive return effect. Furthermore, much of the economic effect of excluding fossil fuel stocks could have been replicated with 'fossil free' energy portfolios consisting of energy efficiency and renewable energy stocks, with limited additional tracking error and improved returns."

IMPAX Asset Management Report on the Case for Fossil Fuel divestment.
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

 

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