The main Fossil Fuels, namely coal, oil, and gas (natural gas) are all expected to peak by 2030 (that’s only 6 years from now).
Once they peak, they will steadily fall, but not fast enough.
However, incredible gains are being made in Solar PV (photovoltaic), wind turbine power, Electric Vehicles, energy efficiency, heat pumps, etc.
For example, in 2020 only 1 in 25 new cars (4%) were electric, and by the end of 2023 about 1 in 5 (20%) were electric.
Growth in China has been gigantic, but even that is rapidly slowing now.
Critical minerals for the explosive growth of renewable energy and electrification, such as copper, lithium, platinum and cobalt are concentrated mostly within 3 top country suppliers. This puts supply chains at risk in the event of geopolitical turmoil. We rapidly need geographic diversification of the supply chains of these critical materials to enable accelerating rollout of replacement technologies to retool our energy systems.
This extremely detailed, gargantuan report is fascinating reading for how people in industry expect to replace fossil fuels with clean energy sources.
Report by International Energy Agency (IEA):
“World Energy Outlook 2023”
https://iea.blob.core.windows.net/assets/86ede39e-4436-42d7-ba2a-edf61467e070/WorldEnergyOutlook2023.pdf
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by paulhenrybeckwith
1 comment
Hi Paul,
I sincerely appreciate all your educational videos of the state of the Earth. I sense a tone of change in your attitude lately of speaking up. Separating emotions aside, what is your disagreement with Guy’s NTHE? Aren’t the Earth’s vitals f*ed up?