PeakOil is You
Half World's Fossil Fuel Assets Could Be Worthless by 2036
Re: Half World's Fossil Fuel Assets Could Be Worthless by 20
by EnergyUnlimited » Fri 31 Dec 2021, 06:06:58
$this->bbcode_second_pass_quote('Pops', 'E')ventually a capitalist world made by robots and AI will grind to a halt.
Yes and that will be a real fun to watch.
-
EnergyUnlimited - Light Sweet Crude
- Posts: 7537
- Joined: Mon 15 May 2006, 03:00:00
Re: Half World's Fossil Fuel Assets Could Be Worthless by 20
by theluckycountry » Fri 31 Dec 2021, 09:13:19
$this->bbcode_second_pass_quote('BrianC', 'H')alf World's Fossil Fuel Assets Could Become Worthless by 2036 in Net Zero Transition
A pretty shallow article? No mention of fossil fuels' other uses, and they have quite a few, like blacktop roads, pesticides, plastics, fertilizer, all things which are Zero emissions. At current consumption the remaining fuels could provide these sectors for hundreds of years perhaps. How much of a barrel? 21% according to this Canadian report https://www.capp.ca/oil/uses-for-oil/
Another link
Petrochemicals are used in millions of products, from plastics, detergents, shampoos and makeup to industrial solvents, lubricants, pharmaceuticals, fertilizer and carpeting. Over the next 20 years, oil company BP projects that this market will grow by 16% to 20%.
https://theconversation.com/oil-compani ... ete-153598
Anyway the whole stupid article from the Guardian bases it's case on the opinion we "can" transition to 100% renewable, which of course is a total delusion understood by anyone with half a brain and no stake in the alternative market. Every study I have ever read on the "renew-ability" of solar panels was based on dollar equivalents (cheap oil) and not on energy equivalents. I don't know why we even discuss half this crap anymore...
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
- theluckycountry
- Light Sweet Crude
- Posts: 5254
- Joined: Tue 20 Jul 2021, 18:08:48
- Location: Australia
Re: Half World's Fossil Fuel Assets Could Be Worthless by 20
by Doly » Fri 31 Dec 2021, 15:59:32
$this->bbcode_second_pass_quote('', 'I') like the idea of governments capitalizing their citizens, very much like banks do, but without restriction. The program could work something like this: when you first become of age, you are eligible to borrow for a purpose. The purpose would be to borrow toward something for which the money you borrowed was actually capital.
Giving the same opportunity to everyone sounds fair, but in practice it may not be. Somebody from a rich family would have their family's money to fall back on if they made a mistake. While somebody in a poor area may find increased risks in their area, and be more likely to find themselves unable to repay the loan, through no fault of their own. It's my observation that loans seem like very different things to poor people and to rich people.
-
Doly - Expert
- Posts: 4370
- Joined: Fri 03 Dec 2004, 04:00:00
Re: Half World's Fossil Fuel Assets Could Be Worthless by 20
by Tanada » Fri 31 Dec 2021, 22:36:35
$this->bbcode_second_pass_quote('BrianC', 'H')alf World's Fossil Fuel Assets Could Become Worthless by 2036 in Net Zero Transition (theguardian.com) 7
Posted by msmash on Friday November 05, 2021 @02:46PM from the closer-look dept.
About half of the world's fossil fuel assets will be worthless by 2036 under a net zero transition, according to research. From a report:
Countries that are slow to decarbonise will suffer but early movers will profit; the study finds that renewables and freed-up investment will more than make up for the losses to the global economy. It highlights the risk of producing far more oil and gas than required for future demand, which is estimated to leave $11tn-$14tn in so-called stranded assets -- infrastructure, property and investments where the value has fallen so steeply they must be written off. The lead author, Jean-Francois Mercure of the University of Exeter, said the shift to clean energy would benefit the world economy overall, but it would need to be handled carefully to prevent regional pockets of misery and possible global instability. "In a worst-case scenario, people will keep investing in fossil fuels until suddenly the demand they expected does not materialise and they realise that what they own is worthless. Then we could see a financial crisis on the scale of 2008," he said, warning oil capitals such as Houston could suffer the same fate as Detroit after the decline of the US car industry unless the transition is carefully managed.
https://www.theguardian.com/environment ... transition
Posted by msmash on Friday November 05, 2021 @02:46PM from the closer-look dept.
About half of the world's fossil fuel assets will be worthless by 2036 under a net zero transition, according to research. From a report:
Countries that are slow to decarbonise will suffer but early movers will profit; the study finds that renewables and freed-up investment will more than make up for the losses to the global economy. It highlights the risk of producing far more oil and gas than required for future demand, which is estimated to leave $11tn-$14tn in so-called stranded assets -- infrastructure, property and investments where the value has fallen so steeply they must be written off. The lead author, Jean-Francois Mercure of the University of Exeter, said the shift to clean energy would benefit the world economy overall, but it would need to be handled carefully to prevent regional pockets of misery and possible global instability. "In a worst-case scenario, people will keep investing in fossil fuels until suddenly the demand they expected does not materialise and they realise that what they own is worthless. Then we could see a financial crisis on the scale of 2008," he said, warning oil capitals such as Houston could suffer the same fate as Detroit after the decline of the US car industry unless the transition is carefully managed.
https://www.theguardian.com/environment ... transition
This is just another round of ETP thinking and I can not understand why otherwise intelligent people take it seriously.
$this->bbcode_second_pass_quote('Alfred Tennyson', 'W')e are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
- Tanada
- Site Admin
- Posts: 17094
- Joined: Thu 28 Apr 2005, 03:00:00
- Location: South West shore Lake Erie, OH, USA
