Don't worry peeps, coal will keep you warm this winter......
https://www.marketwatch.com/story/c...he-world-as-renewables-fall-short-11635338557
Coal was supposed to be headed to the dust bin of history as the world increasingly embraces renewable energy.
After all, many countries were shutting down these sooty, air-choking power plants. Mines closed, coal companies went bankrupt, and utilities started to replace coal-fired electricity generation with natural gas or wind and solar energy.
But it turns out that weaning the world off fossil fuels, particularly the dirtiest fuel of them all, isn’t going to be easy or quick, as coal’s price and demand have been revived this year. Transitions take time.
“From our point of view, the energy transition was always a multi-decade story,” said Biff Ourso, senior managing director, Nuveen Real Assets. “And there’s invariably going to be periods of spikes in demand, or supply/demand imbalances that was going to cause a resurgence in carbon-based generation sources.”
Coal is likely to stick around as countries rely on it to ensure the lights stay on and the economy hums along. Coal’s resurgence also shines a light on the need for improved battery storage for renewables if the world is going to decarbonize.
https://www.marketwatch.com/story/c...he-world-as-renewables-fall-short-11635338557
Coal was supposed to be headed to the dust bin of history as the world increasingly embraces renewable energy.
After all, many countries were shutting down these sooty, air-choking power plants. Mines closed, coal companies went bankrupt, and utilities started to replace coal-fired electricity generation with natural gas or wind and solar energy.
But it turns out that weaning the world off fossil fuels, particularly the dirtiest fuel of them all, isn’t going to be easy or quick, as coal’s price and demand have been revived this year. Transitions take time.
“From our point of view, the energy transition was always a multi-decade story,” said Biff Ourso, senior managing director, Nuveen Real Assets. “And there’s invariably going to be periods of spikes in demand, or supply/demand imbalances that was going to cause a resurgence in carbon-based generation sources.”
Coal is likely to stick around as countries rely on it to ensure the lights stay on and the economy hums along. Coal’s resurgence also shines a light on the need for improved battery storage for renewables if the world is going to decarbonize.
