Submitted by Sorin61 t3_ztfrdo in technology
seven_tech t1_j1kn3ts wrote
Reply to comment by i_am_bromega in Exxon’s bad reputation got in the way of its industry-wide carbon capture proposal by Sorin61
The last coal plant in Australia is due to close in 2038. It's moved forward closure an entire decade in the last 3 years and they're talking about moving it forward again. LNG has shot themselves in the foot here, as they tried to game the federal electrical system during a lack of 'gas availability' (they chose to export it for higher prices) in June. They've just had their prices capped and a super profits tax is on the cards in early '23. LNG will be summer peaking only by mid-2030s. They'll be lucky if they're being used more than a month year.
I'm afraid you don't seem to see what's happening in the renewable space. Regulation globally is decimating fossil fuels because people are sick of them determining prices based on their profits. This isn't the 2000s anymore. The world is moving quickly and inexorablly to renewables. The war in Ukraine has galvanised Europe on it even more. Yes, in the short term (2-4 years) they will be more dependant. But they are spending hundreds of billions to get off it now because they're no longer prepared to have it used as a weapon a la Russia. America is the only major Western country now lagging in their ambition.
Viewing a single comment thread. View all comments