EIA and IEA are out with projections for emissions and fossil gas consumption. They usually don’t look good.
On our present coverage trajectory, there is no such thing as a peak in sight, in line with EIA By 2050, we’ll seemingly see a 50% enhance in vitality consumption. And regardless that renewables would be the fastest-growing new supply of vitality, hydrocarbon liquid fuels will meet nearly all of demand.
Meaning emissions may rise by 2050, absent large modifications to coverage.
In July, the Worldwide Power Company issued an analogous evaluation displaying that carbon emissions will hit report ranges within the coming years. And that spending packages all over the world — even at historic ranges — are nonetheless not sufficient.
How can we make sense of this sobering evaluation?
Plus, Wooden Mackenzie is out with a brand new evaluation of world vitality storage traits, displaying that storage deployments are set to triple this yr. Most of that progress is coming from America and China, which account for 70% of installations. What are the purposes, applied sciences and markets that may dominate this progress?
Lastly, Europe is in a disaster headed into winter. Pure gasoline is the second-most confused gas in Europe — and costs are 6 instances increased than they have been within the spring.
A confluence of things — quickly rising demand unexpectedly, decrease manufacturing than anticipated from Russia, low storage in Europe, lower-than-expected hydro and wind manufacturing — are contributing to the issue.
What may alleviate the disaster? And does this put pressure on Europe’s local weather ambitions headed into COP26?
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