Economy 52,844 Posted October 13, 2021 Share Posted October 13, 2021 https://www.bnnbloomberg.ca/iea-warns-world-isn-t-investing-enough-for-future-energy-needs-1.1665477 The IEA (International Energy Agency) is warning of an investment deficit in energy overall both in fossil fuels and renewable green energy alike On the one hand investment in Oil and Coal is way down as uncertainty surounding future demand has made companies reluctant to start too many major new projects to replace ageing fields. If demand doesnt fall as quickly as many forecast there will be huge price spikes At the same time green energy like Solar and Wind is still not getting enough investment to avert severe climate change or replace the falling fossil fuel investments Right now were looking at a potential energy crisis and climate crisis simultaneously Link to post Share on other sites More sharing options...
Pennywise 36,080 Posted October 13, 2021 Share Posted October 13, 2021 Off topic but THIS part is giving me So long ggd, it was nice while it lasted. Link to post Share on other sites More sharing options...
Economy 52,844 Posted October 13, 2021 Author Share Posted October 13, 2021 2 minutes ago, Pennywise said: Off topic but THIS part is giving me Im confused Link to post Share on other sites More sharing options...
Pennywise 36,080 Posted October 13, 2021 Share Posted October 13, 2021 Just now, Economy said: Im confused It's the economy-ception of your name, the "economy" written circle and the "by Economy" that comes after that So long ggd, it was nice while it lasted. Link to post Share on other sites More sharing options...
Dojo 19,823 Posted October 13, 2021 Share Posted October 13, 2021 economyception luvs Link to post Share on other sites More sharing options...
PartySick 172,509 Posted October 13, 2021 Share Posted October 13, 2021 The rich and powerful are f*cking us all over again. What's new? They have the money, they should be doing the investing tbh. I'm not sure why anyone who has the means wouldn't be investing in green energy since it's clearly the future. Whimsical bitch Link to post Share on other sites More sharing options...
Economy 52,844 Posted October 13, 2021 Author Share Posted October 13, 2021 Ive read before a slowdown in green investment may be partially related to oil crash ironically as fossil fuels and renewables are not as seperate as many would like to believe Although companies that invest exclusively only on green energy exist mamy are still small. A lot of investment in green energy is coming from fossil fuel giants that are starting to diversify as they anticipate a less and less lucrative future in fossil fuels When oil crashed and they ran into losses many of the companies reduced expansion budgets to not go bankrupt which had the iony of spilling over into green investments I know a stock im invested in (Suncor Energy) Canadas largest Energy company that happened. They started investing in hydrogen and wind farms as well as part of a long term shift and diversification but pulled back their expansiom rate significantly when oil collapsed as they ran multi billion losses. So killing oil companies too fast ironically hurts green investment too I swear the world economy runs in a way without perfect solutions. Theres always strings attached to everything Link to post Share on other sites More sharing options...
Economy 52,844 Posted October 13, 2021 Author Share Posted October 13, 2021 3 minutes ago, PartySick said: The rich and powerful are f*cking us all over again. What's new? They have the money, they should be doing the investing tbh. I'm not sure why anyone who has the means wouldn't be investing in green energy since it's clearly the future. The irony is a big chunck of energy investors in the green space are the same companies that get hurt when oil crashes. So 1 triggers another Now that energy giants are making money again with oil recovery, i think the best way to ensure their switch to green investments is even faster is to tax carbon harder but reinburse the carbon tax collections to companies with green credits when they invest in renewables instead of pocketing the tax revenue for other stuff and leaving the companies with less to invest For example a large Oil company may pay $1 Billion in carbon taxes but be able to recuperate a big portion of it in credits if enough of their expansion budget is for renewables, thus making green investments only a lot more attractive The green space will require trillions in investment anything helps Link to post Share on other sites More sharing options...
Shaney 5,515 Posted October 13, 2021 Share Posted October 13, 2021 Hopefully people realize coal is a boom and bust industry and go all in on green energy. Link to post Share on other sites More sharing options...
Economy 52,844 Posted October 14, 2021 Author Share Posted October 14, 2021 1 hour ago, Shaney said: Hopefully people realize coal is a boom and bust industry and go all in on green energy. Coal has been mostly been declining considerably for years despite a recent boom from demand in some developing Countries and a temporary boost from a natural gas shortage making the electric grid in some Countries rely more on coal than they normally would Although Oil unlike coal has yet to hit its peak Link to post Share on other sites More sharing options...
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