JM

GREEN NEW DEAL = BLIZZARD OF LIES

Recommended Posts

(edited)

the additional output by renewables equivelent to 320 million tonnes  coal  China by 2025 from 2020 ........all from renewables

Renewables in China

......from 680Mtce in 2020 to 1,000Mtce

in 2025

 

The Death of Coal one solar panel at a time.........

 

China released its 14th five-year plan (FYP) for renewable energy on 1 June, outlining the country’s renewable energy roadmap for the five years 2021-2025.

This is the first sub-sector plan issued since the 14FYP for a modern energy system, published earlier this year. Among all the documents that China has issued under the so-called “1+N” policy framework for enforcing its climate pledges, the energy plan and its sub-sector plan on renewable energy might be the most fundamental to China’s decarbonisation.

China’s climate pledge (its “nationally determined contribution”, or NDC) aimed for 1,200 gigawatts (GW) of wind and solar power capacity by 2030, and for 25% of energy consumption to be met by non-fossil fuels by 2030. Achieving these goals is expected to ensure China’s carbon dioxide (CO2) emissions peak before 2030, but to fall short of a pathway towards carbon neutrality.

Therefore, to the extent that the new 14FYP for renewables can meet or overperform on its goals, it would also contribute to China’s effort to peak carbon emissions early and help bridge the global emission reduction gap towards a 1.5C pathway.

What is in the renewable energy plan?

The 14th FYP for renewable energy sticks with the previously announced vision of 25% of China’s energy coming from non-fossil sources by 2030. In order to increase the share from 15.9% in 2020 to 20% by 2025, the plan lays out a framework with a series of targets and actions.

Specifically, these cover: renewable energy production in million tonnes of coal equivalent (Mtce), overall and for non-electricity supplies; renewable electricity generation in terawatt hours (TWh); and renewable energy share in the grid (%), overall and for non-hydro sources. The details for each of the targets are shown in the table below.

  End of 2020 Actual 2025 target in 14FYP 2030 NDC target
Non-fossil fuel share of total energy consumption 15.9% 20% 25%
Renewable energy output 680Mtce 1,000Mtce Wind and solar capacity 1,200GW
Renewable energy (excluding electricity) 60Mtce 60Mtce  
Renewable electricity 2,210TWh 3,300TWh  
Renewable electricity share 28.8% 33%  
Non-hydro renewable electricity share 11.4% 18%  

Unlike renewable development plans over the past decade, the new version abandons the mandatory generation capacity increase targets, which were the focus of the previous two renewable FYPs.

For example, the 13th FYP for renewable energy aimed for renewable power capacity, in total, to reach 680GW by 2020 – and for wind to reach 210GW.

But, in some respects, the new plan increases ambition. For example, it requires “newly increased renewable generation [to] make up more than 50% of the incremental electricity consumption” – in other words, that at least half of the increase in demand be covered by renewables.

Based on estimated growth in demand and the planned expansion of nuclear and hydropower, our analysis suggests that this target means generation from wind and solar would need to increase by around 150TWh annually over the 14th FYP period from 2021-2025.

This can be compared with the 100TWh annual average increase from wind and solar seen during the 13th FYP period – and the 255TWh increase recorded during 2021.

Will China overperform its renewable targets?

China has a track record of overperforming on renewable energy development goals in the last three FYPs. Since China first included a renewable goal in its energy plan, in the 11th FYP period, most of the quantitative goals for development of the sector have seen overperformance, especially wind and solar total capacity growth targets.

 

The new renewable plan targets total renewable energy output of at least 1,000Mtce by 2025 – up from 680Mtce in 2020 – which means an annual increase of at least 64Mtce is needed.

To generate that much energy, based on the current energy mix, at least 100GW of wind and solar capacity needs to be added annually in the next five years. This is more than the annual increase of more than 75GW from 2021 to 2030 needed to reach China’s NDC goal of 1,200GW of wind and solar by 2030 – meaning the renewable plan is likely to lead to overperformance.

Ambitious implementation at the local level could also contribute to overperformance at the national level. Reviewing the 14th FYPs for energy development issued by each province, 23 out of 34 regions and areas have set wind and solar capacity growth targets, amounting to more than 120GW per year between 2021 to 2025.

(Analysis published by Carbon Brief in May found at least 570GW of capacity set to be built during the 14FYP period, while recent press reports suggest more than 150GW could be built this year.)

The economic impact of renewable investments

China is experiencing an economic slowdown that has seen carbon dioxide (CO2) emissions fall for three quarters in a row, a trend expected to deepen as a result of strict Covid lockdowns.

China’s cabinet, the State Council, issued a package of measures to stabilise economic performance. Premier Li Keqiang has emphasised that “China’s economy is facing greater challenges than [in] 2020”.

Nevertheless, China’s development of renewable energy is expected to continue soaring.

In the same week as the economic stabilisation package, the Ministry of Finance released what Reuters described as “fiscal and taxation policies to support the shift towards carbon neutrality”, with support for the implementation of the 14th FYP for a modern energy system as the primary action.

Renewable energy investment has been an important economic engine in China and will play an even more significant role in boosting the economy than before, at a time when China faces the economic impact of Covid and uncertainties caused by the Ukraine crisis.

In 2021, China’s investment in clean energy took up more than 30% of the total global investment, according to the International Energy Agency, and this trend will continue.  

Implications for the global energy transition

Cheap renewables offer an answer to climate change, the energy crisis and inequality. China’s renewable investments will contribute to rising energy output from the sector, as well as offering the potential to boost domestic and global economic growth, by driving down wind and solar cost and by creating economic opportunities in terms of manufacturing and deployment.

Having dominated the solar panel market, China’s companies are now leading the global markets for electric vehicles (EVs) and batteries. Chinese companies CATL and BYD are responsible for producing the batteries for 39% of the world’s EV fleet.

The Global Wind Energy Council’s 2022 report indicates that China recently surpassed the UK and Germany in offshore wind, becoming the largest offshore wind market in the world, accounting for 40% of the global total installed capacity.

According to the new 14th FYP for renewables, China has committed to building offshore power “bases” in five regions. Six coastal provinces’ energy development plans indicate a total of 32GW offshore wind capacity growth during the 14th FYP period 2021-2025, which would represent an increase of more than 60% on the 2020 level.

China’s ambitious development plan means a growing market for all offshore turbine manufacturers, of which the western companies are still leading the market share.  

Challenges of decarbonising the energy mix

The success of the renewable energy plan will rely heavily on building large-scale renewable energy bases and creating market mechanisms leveraging renewable energy integration to the grid.

Meanwhile, the growing penetration of wind and solar in China’s electricity mix will require flexible resources that can balance and accommodate fluctuations in renewable output. These resources include energy storage, demand-side management and flexible operation of fossil fuel plants. 

Prioritising clean and inexpensive ways to balance renewable energy, in support of China’s climate goals, rather than the conventional fossil fuel approach that has been used in the past, will only be possible with smart policy design and appropriately designed pricing signals.

The renewable energy 14FYP includes measures promoting pumped hydro and other energy storage approaches. The National Energy Administration has also announced that permits for new coal power plants would be issued only if the projects are supplementary to renewables.

Despite all these efforts, however, there is still a risk that China’s growing coal capacity could run counter to the country’s efforts to decarbonise its energy mix. 

 

Edited by notsonice
  • Haha 2

Share this post


Link to post
Share on other sites

(edited)

 

This does not include existing underground fossil fuels under the land or under the lakes and oceans. It is continuously being produced. Mankind is very small compared to all the methane (natural gas), oil, coal, peat, etc. produced by the dead bodies of living things. 

Visualizing All the Biomass on Earth

Edited by Ron Wagner
  • Upvote 3

Share this post


Link to post
Share on other sites

(edited)

15 hours ago, Boat said:

Oil and coal may recover to previous levels or they may not. One thing for sure if new consumptions levels are reached, don’t expect big gains. It won’t take long for renewables and nat gas to fill the void caused by Putin. The electric car will kill transportation oil consumption along with oil producers influence in politics. Coal will stay on a reduced plateau then return to stranded assets. This transition has been a couple decades in the making but is unstoppable. 

Wait until there are a large number of electric vehicles. They will be getting their electricity mainly from fossil fuels just as they are right now. Especially in China.

Have you been following the price of lithium lately?  

Edited by Ron Wagner
  • Like 1
  • Haha 1

Share this post


Link to post
Share on other sites

https://www.wsj.com/articles/dont-believe-the-hype-about-antarcticas-melting-glaciers-ice-sheet-climate-change-global-warming-sea-levels-greenland-iceberg-ocean-11663618509?mod=hp_opin_pos_1

 

Don’t Believe the Hype About Antarctica’s Melting Glaciers

Two studies carefully explore the factors at play, but the headlines are only meant to raise alarm.

 
By Steven Koonin
Sept. 19, 2022 6:27 pm ET
SAVE
PRINT
TEXT
?width=860&height=573

The Thwaites Glacier in Antarctica, Sept. 5.PHOTO: COVER IMAGES/ZUMA PRESS

Listen to article
Length(5 minutes)
Queue

Alarming reports that the Antarctic ice sheet is shrinking misrepresent the science under way to understand a very complex situation. Antarctica has been ice-covered for at least 30 million years. The ice sheet holds about 26.5 million gigatons of water (a gigaton is a billion metric tons, or about 2.2 trillion pounds). If it were to melt completely, sea levels would rise 190 feet. Such a change is many millennia in the future, if it comes at all.

Much more modest ice loss is normal in Antarctica. Each year, some 2,200 gigatons (or 0.01%) of the ice is discharged in the form of melt and icebergs, while snowfall adds almost the same amount. The difference between the discharge and addition each year is the ice sheet’s annual loss. That figure has been increasing in recent decades, from 40 gigatons a year in the 1980s to 250 gigatons a year in the 2010s.

But the increase is a small change in a complex and highly variable process. For example, Greenland’s annual loss has fluctuated significantly over the past century. And while the Antarctic losses seem stupendously large, the recent annual losses amount to 0.001% of the total ice and, if they continued at that rate, would raise sea level by only 3 inches over 100 years.

Many fear that a warming globe could cause glaciers to retreat rapidly, increasing discharge and causing more rapid sea-level rise. To get beyond that simplistic picture, it is important to understand how glaciers have flowed in the past to predict better whether they might flow faster in the future.

Two recent studies reported in the media focus on the terminus of glaciers—i.e., where the ice, the ocean and the ground come together. One study used an underwater drone to map the seabed at a depth of 2,000 feet, about 35 miles from the terminus of the Thwaites Glacier in Antarctica. Detailed sonar scans showed a washboard pattern of ridges, most less than 8 inches high. The ridges are caused by daily tides and serve as a record of where ice touched the seabed in the past. Researchers could read that record to infer that at some time in the past the glacier retreated for half a year at more than twice the fastest rate observed between 2011 and 2019.

The cause of the specific event at the Thwaites Glacier remains unknown, in part because the time of the rapid retreat hasn’t yet been determined. It likely happened more than 70 years ago, if not several centuries ago. But the media goes with this angle: “A ‘doomsday glacier’ the size of Florida is disintegrating faster than thought.” A correct headline would read: “Thwaites Glacier retreating less than half as rapidly today as it did in the past.”

A second study tested the idea that freshwater from the melting of one glacier could be carried by currents along the shore to accelerate the discharge of nearby glaciers. Because global climate models are insufficiently detailed to describe the ocean near the coast, researchers constructed a special model to prove out their idea. If ocean currents can connect the discharges of distant glaciers, that would add to the complexity and variability of changes in the Antarctic ice sheet.

Under scenarios deemed likely by the United Nations’ Intergovernmental Panel on Climate Change, a connection between ocean currents and discharge would increase the overall discharge rate in one region of the continent by some 10% by the end of the century. But to emphasize the idea being tested, the modelers used human influences almost three times larger. Even though that fact is stated in the paper, reporters rarely catch such nuance, and the media goes with headlines such as “Antarctic Ice Melting Could Be 40 Percent Faster Than Thought” with the absurd statement that “a massive tsunami would swamp New York City and beyond, killing millions. London, Venice and Mumbai would also become aquariums.” A more accurate headline would read: “Ocean currents connecting antarctic glaciers might accelerate their melting.”

These two studies illustrate the progress being made in understanding a dauntingly complex mix of ice, ocean, land and weather, with clever methods to infer past conditions and sophisticated computer modeling to show potential future scenarios. These papers describe the science with appropriate precision and caveats, but it is a shame that the media misrepresents the research to raise alarm. That denies the public the right to make informed decisions about “climate action,” as well as the opportunity to marvel at the science itself.

Mr. Koonin is a professor at New York University, a senior fellow at the Hoover Institution and author of “Unsettled: What Climate Science Tells Us, What It Doesn’t, and Why It Matters.”

  • Upvote 1

Share this post


Link to post
Share on other sites

On 9/18/2022 at 9:01 AM, Ecocharger said:

This creates problems for cobalt sources, squeezes EV prices upwards, which means EVs are not the answer for universal personal transportation.

I think Tesla uses around 60% LFP batteries avoiding cobalt and nickel constraints at least for a couple years. We’ll see when the pickup and Semi kick in. Despite your assertion that the electric transition is not the answer, the tech moves forward. 

Share this post


Link to post
Share on other sites

On 9/18/2022 at 8:07 PM, Ron Wagner said:

Wait until there are a large number of electric vehicles. They will be getting their electricity mainly from fossil fuels just as they are right now. Especially in China.

Have you been following the price of lithium lately?  

I think lack of chips is still the biggest issue for any vehicle. I think Tesla has their lithium needs covered. They are the only EV car company with volume in the US. That makes the other hype kinda non consequential for a couple years. Grid storage batteries still have plenty of supply for the new factories. We’ll see. It’s a fast moving industry. 

Share this post


Link to post
Share on other sites

(edited)

On 9/18/2022 at 6:59 PM, Jay McKinsey said:

A few years back China coal mining was ranked as one of the most dangerous jobs in the world. Some of these Putin types don’t care about human deaths. Some leaders are Mafia type and let scant morals rule their decision making. I have hopes for better conduct but hoping doesn't get change. Aspiration won’t take down a greed driven tyrant. Bad morals won’t stop their drive for loyalty.  

I had hoped India was turning the page and was moving towards the ideas of fairness and free trade. It was disappointing they chose corrupt countries for cheap energy. 

 

Edited by Boat

Share this post


Link to post
Share on other sites

On 9/18/2022 at 8:07 PM, Ron Wagner said:

Wait until there are a large number of electric vehicles. They will be getting their electricity mainly from fossil fuels just as they are right now. Especially in China.

Have you been following the price of lithium lately?  

That is not new news Ron. The tech of solar and wind just hit the break even point with nat gas around 3 years ago. The energy market is huge. Just transportation will take a couple decades to kill market share for oil. Oil will also lose to nat gas. Maybe you don’t remember that. Nat gas is a Fossile fuel. Obama preached nat gas as the bridge fuel of the future. I guess you missed that part. 
Meanwhile the solar swarm is just getting rolling. That $8 nat gas is helping. The South will go nuts the next 10 years with batteries for storage jumping to the forefront. Even a year from now we’ll be looking at the charts jump. 

  • Rolling Eye 1

Share this post


Link to post
Share on other sites

In recent months, China has significantly boosted its coal production, following government orders for more coal supply. Faced with power shortages last autumn, Chinese authorities ordered an increase in domestic coal production as global coal prices soared.

China has put more emphasis on energy security since the autumn of 2021. Earlier this year, China said it would continue to maximize the use of coal in the coming years as it caters to its energy security, despite pledges to contribute to global efforts to reduce emissions.

China gave the green light to as many as 8.63 gigawatts (GW) of new coal-fired power plants in the first quarter of 2022 alone

  • Great Response! 1
  • Upvote 1

Share this post


Link to post
Share on other sites

(edited)

On 9/18/2022 at 5:14 PM, notsonice said:

the death of coal one solar panel at a time..........

 

https://www.mprnews.org/story/2022/09/16/solar-power-station-set-becker-minnesota-regulators-approve

Minnesota regulators OK building massive solar power station near Becker

Xcel says it expects the Sherco Solar project to be fully operational by late 2025

September 16, 2022 11:11 AM
 

The Sherco solar project

The Sherco Solar project will be built adjacent to the existing Sherco coal-fired power plant. All three units of the coal plant are scheduled to be retired by 2030.
Kirsti Marohn | MPR News file

Share

State regulators have signed off on Xcel Energy’s plan to start construction on the largest solar-energy project in the Upper Midwest.

The Minnesota Public Utilities Commission reported that, once completed, the Sherco Solar project near Becker, northwest of the Twin Cities, is expected to cut carbon emissions by nearly 300,000 tons annually as the electricity it produces replaces some of the power generated by the Sherco coal-fired plant that's set to close by 2030.

The cost of the solar project is estimated at $575 million. Regulators say the project will generate approximately $240 million for the local economy over its lifetime. The Public Utilities Commission gave final approval for the plan Thursday.

Xcel says it expects the Sherco Solar project to be fully operational by late 2025. When finished it will produce 460 megawatts of power.

In a statement, Xcel said the project is vital to its plan to transition power generation from coal and have all its electricity production be carbon-free by 2050.

In approving the solar project Thursday, the commission noted broad support for the plan from surrounding communities and deemed it a cost-effective energy investment.

Here is the reality of renewables, old man, coming to to a theatre near you.

This where you want to take us.

https://oilprice.com/Latest-Energy-News/World-News/Thousands-Take-To-The-Streets-In-Belgium-Against-Soaring-Energy-Prices.html

"Thousands of people protested against soaring electricity prices and costs of living in the Belgian capital Brussels on Wednesday, following a similar protest the day before in Slovakia, and earlier this month in the Czech Republic.

In what has been dubbed “a national day of action”, as reported by the Associated Press, some 10,000 people protested across the country, demanding solutions to soaring electricity and natural gas prices and skyrocketing costs of living.

According to AP, citing a Belgian media poll, at a time when electricity and gas bills have nearly doubled from a year ago, some 64% of Belgians are concerned they may not be able to pay their energy bills. 
"

 

Edited by Ecocharger

Share this post


Link to post
Share on other sites

22 hours ago, Boat said:

A few years back China coal mining was ranked as one of the most dangerous jobs in the world. Some of these Putin types don’t care about human deaths. Some leaders are Mafia type and let scant morals rule their decision making. I have hopes for better conduct but hoping doesn't get change. Aspiration won’t take down a greed driven tyrant. Bad morals won’t stop their drive for loyalty.  

I had hoped India was turning the page and was moving towards the ideas of fairness and free trade. It was disappointing they chose corrupt countries for cheap energy. 

 

EVs breed bad morals, child slave labor in Africa.

Share this post


Link to post
Share on other sites

11 hours ago, Ecocharger said:

Here is the reality of renewables, old man, coming to to a theatre near you.

This where you want to take us.

https://oilprice.com/Latest-Energy-News/World-News/Thousands-Take-To-The-Streets-In-Belgium-Against-Soaring-Energy-Prices.html

"Thousands of people protested against soaring electricity prices and costs of living in the Belgian capital Brussels on Wednesday, following a similar protest the day before in Slovakia, and earlier this month in the Czech Republic.

In what has been dubbed “a national day of action”, as reported by the Associated Press, some 10,000 people protested across the country, demanding solutions to soaring electricity and natural gas prices and skyrocketing costs of living.

According to AP, citing a Belgian media poll, at a time when electricity and gas bills have nearly doubled from a year ago, some 64% of Belgians are concerned they may not be able to pay their energy bills. 
"

 

"Thousands of people protested against soaring electricity prices and costs of living in the Belgian capital Brussels on Wednesday, following a similar protest the day before in Slovakia, and earlier this month in the Czech Republic.

Those people were not protesting against renewables, they were protesting against the cost of Fossil Fuel generated electricity.

The reason for the soaring electicity prices are all from the soaring costs of fossil fuels and your master , Putins war.

Enjoy the costs of fossil fuels is driving an increase in renewables across Europe and the world. 

The Death of Coal , One Solar Panel at a Time.

Share this post


Link to post
Share on other sites

reNEWS

 

https://renews.biz/80608/us-bill-will-accelerate-critical-grid-permitting/

US Bill ‘will ‘accelerate critical grid permitting’

American Council on Renewable Energy welcomes proposed legislation by Senator Joe Manchin

 22 September 2022 09:38

 

 
 

The US renewables industry has welcomed a new Bill that aims to speed up permitting for electrical infrastructure.

 

Senator Joe Manchin has introduced legislation that proponents say will help streamline the transmission approval process.

 

The American Council on Renewable Energy said if enacted the laws would improve the ability to meet the nation’s decarbonization goals by better connecting our key renewable resources to our largest population centres.

“We know we need to expand and upgrade the nation’s electrical grid to fully realize the renewable energy growth expected under the Inflation Reduction Act,” it said.

 

“Yet, it remains very difficult to get new transmission lines sited, permitted and built in this country, with successful efforts rare and typically taking more than a decade.

 

“We look forward to working with members of Congress to move these important policies into law and help our nation forward on its path to a clean energy future.”

Share this post


Link to post
Share on other sites

On 9/19/2022 at 4:26 AM, notsonice said:

you still holding onto your horse drawn world? I bet you are doing the same with your coal powered steam engine

image.jpeg.bbb22224a8f8432c28bd69b95e5cdbb8.jpeg

 

the meaning is two folds.

1. animal carts release no pollutant when in used or during production. Defecate from animals ( eating normal herbivore diets) in service can be natural fertilizer. Products from animals e.g. milk, meat, bones, skin etc can be used to feed the community.

What could be cleaner form of transport and multi-purpose than these? :|

 

2. we need to redefine the need of rapid massive development and to recreate cities so that traffic congestion, out of bad road and town shed designs, too many cars on the road, would no longer be an issue. Horse carts can be conveniently accommodated despite the lightning-walking speed........

 

Open you eyes to see wider than EV vs non EV; solar-wind vs non renewable.

 

Bigger things in more massive scale of usages are causing climate change than the said culprit fossil fuel alone......

We overlooked the simple causal agents. Our targeted solutions are skewed. We will never achieve the aim of helping the earth to recover shall we insist on looking at the wrong things and going the wrong ways.......

  • Upvote 1

Share this post


Link to post
Share on other sites

On 9/21/2022 at 11:22 AM, Boat said:

I think Tesla uses around 60% LFP batteries avoiding cobalt and nickel constraints at least for a couple years. We’ll see when the pickup and Semi kick in. Despite your assertion that the electric transition is not the answer, the tech moves forward. 

saw this somewhere........

image.png.1f56e84e469badbff11742bcaf4e79fc.png

Share this post


Link to post
Share on other sites

2 hours ago, specinho said:

the meaning is two folds.

1. animal carts release no pollutant when in used or during production. Defecate from animals ( eating normal herbivore diets) in service can be natural fertilizer. Products from animals e.g. milk, meat, bones, skin etc can be used to feed the community.

What could be cleaner form of transport and multi-purpose than these? :|

 

 

2. we need to redefine the need of rapid massive development and to recreate cities so that traffic congestion, out of bad road and town shed designs, too many cars on the road, would no longer be an issue. Horse carts can be conveniently accommodated despite the lightning-walking speed........

 

Open you eyes to see wider than EV vs non EV; solar-wind vs non renewable.

 

Bigger things in more massive scale of usages are causing climate change than the said culprit fossil fuel alone......

We overlooked the simple causal agents. Our targeted solutions are skewed. We will never achieve the aim of helping the earth to recover shall we insist on looking at the wrong things and going the wrong ways.......

so the answer to the question.....

are you still holding onto your horse drawn world? or are doing the same with your coal powered steam engine ???

 

is yes????

 

enjoy cleaning up after your horse and enjoy shoveling coal at the same time you are puttering along at 5 mph......

An EV has neither problems

 

 

  • Upvote 1

Share this post


Link to post
Share on other sites

21 minutes ago, notsonice said:

so the answer to the question.....

are you still holding onto your horse drawn world? or are doing the same with your coal powered steam engine ???

is yes????

enjoy cleaning up after your horse and enjoy shoveling coal at the same time you are puttering along at 5 mph......

An EV has neither problems

I laugh at how the EV haters think that strengthening the electrical grid is somehow impossible, but having gas stations near everywhere is practical.

 

  • Upvote 1

Share this post


Link to post
Share on other sites

Fortunately, coal is coming to the rescue.

In China 104 coal plants of a total of 102 gigawatts (GW) in 26 countries are planned, considered, or in construction under either Chinese financing or engineering, procurement and construction (EPCs) agreements, CREA and its partner in the report, People of Asia for Climate Solutions, said.

7.6 GW or 14 plants, have already entered into operation over the past year. Another 27 plants with 23 GW capacity are near completion, and they will likely enter into operation soon.

  • Upvote 1

Share this post


Link to post
Share on other sites

China forecasts 50% non-fossil fuel energy sources by end of 2022

on: January 30, 2022In: Power
 
 
 
 
 
 
Chinas-national-power-generating-mix-for

*China’s national power-generating mix for four scenarios in 2020, 2025, and 2030

OpeOluwani Akintayo

Lagos — China’s energy council has forecast its non-fossil fuel energy sources to hit half of its total power generation capacity by the end of the year.

A report issued by the China Electricity Council, CEC late Thursday, said the country is expected to add 180 gigawatts (GW) of renewable sources in 2022, increasing its non-fossil fuel capacity to 1,300 GW.

China is currently the world’s biggest greenhouse gasses emitter and coal consumer.

That equates to half of the CEC’s forecast of total installed power generation capacity in China of 2,600 GW by the end of 2022, of which 1,140 GW would be coal-fired power capacity, the report said.

 
  • Haha 2

Share this post


Link to post
Share on other sites

  • China forecasts 50% non-fossil fuel energy sources by end of 2022

China also says it is not responsible for fentanyl deaths despite being responsible for 100,000's of fentanyl deaths. Why do you let them lie to your face?

China’s energy council has forecast . . . 

Translation: China's energy council, knowing that stupid people will believe them despite all their previous lies, has forecast . . . 

Share this post


Link to post
Share on other sites

56 minutes ago, Michael Sanches said:
  • China forecasts 50% non-fossil fuel energy sources by end of 2022

China also says it is not responsible for fentanyl deaths despite being responsible for 100,000's of fentanyl deaths. Why do you let them lie to your face?

China’s energy council has forecast . . . 

Translation: China's energy council, knowing that stupid people will believe them despite all their previous lies, has forecast . . . 

China is also lying about their GDP growth and the construction of new coal fired power plants. The are also lying about their coal output.... Yet you bought their BS and posted it here..........

 

Fentanyl......Dude what are you babbling about????? are you on the pipe again?

  • Upvote 1
  • Downvote 1

Share this post


Link to post
Share on other sites

(edited)

Ecochump, how you doing with your robust demand you were spouting about last month?????? You supported your BS claims with the GS year end estimates..... A sucker is born every day ......

 

$86 Brent and $78 WTI today sure looks like Oil is taking a big dump .......Now if your claim of big robust demand was true ......oil should be skyrocketing....yet today ......

Enjoy

is the current oil bull market about to crash

 

 

 

Crude oil prices today - Oilprice.com

 

Goldman Sees $5 Gasoline, $130 Brent By Year End

By Julianne Geiger - Aug 11, 2022, 5:30 PM CDT

The price of retail gasoline just dipped below $4 per gallon, AAA data showed on Thursday, but prices could rise to $5 per gallon by the end of the year, Goldman Sach’s Head of Energy Research Damien Courvalin told Bloomberg TV on Thursday.

“We think that’s the level at which we need to see sustained pricing to eventually solve the market deficit,” Courvalin told Bloomberg.

As for crude oil prices, Courvalin sees Brent climbing to $130 by the end of the year. “So we think Brent goes to $130 per barrel at the end of this year to reflect this need for sustained high prices.”

 

“We’re still in deficit. Despite growth slowing, prices still have work to do, and that’s higher from here.”

Goldman’s forecast assumes China’s demand for jet fuel and diesel only grows moderately from here until the end of 2023, pressured by its zero-Covid policy. 

That scenario could shift, Courvalin points out. “If we’re talking half a million barrels per day of Chinese demand going back to its prior highs, just on our pricing model, that’s $15 upside per barrel to Brent prices.”

In the shorter term, Courvalin sees gasoline and diesel prices going up as refiners head into turnaround season due to the lack of a typical inventory buffer that is currently not present in the market.

As of the latest EIA data, total motor gasoline inventories in the United States were 6% below the five-year average for this time of year, while distillate fuels were 24% below the five-year average.

Brent crude was on the upswing on Thursday, trading $2.38 (2.44%) higher on the day at $99.78, pressing to reclaim its position above $100 per barrel—a position the international crude oil benchmark has held for most of the summer.

By Julianne Geiger for Oilprice.com

 

 

Edited by notsonice

Share this post


Link to post
Share on other sites

(edited)

On 7/2/2022 at 2:16 PM, notsonice said:

Big Oil thanks for the upcoming recession....Big oil sure knows how to screw everyone........ Demand destruction is happening fast ...........A switch to renewables and EVs  is the result

 

MSN

🛢Ditch Dangerous Oil Stocks Before the Recession Hits

Luke Lango - Yesterday 12:38 PM
 
 
 

This year has been one to remember for oil stocks. But what goes up must come down. So, if you own red-hot oil stocks, you’ll want to sell them and look elsewhere to thrive during a recession.

Hey, you’ve had a good run with crude. While the first six months of 2022 saw the stock market’s worst run since 1970, oil prices rose about 50%. That’s crude oil’s biggest breakout since the first half of 2008.

But the second half of 2008 was a different story.

A recession hit, and oil prices slumped into their biggest crash in decades. All told, “black gold” lost roughly 80% of its value in six short months.

Now, the data suggests history is about to repeat itself.

Oil barrel and spilled oil in form of United States isolated on white.
© Provided by InvestorPlaceOil barrel and spilled oil in form of United States isolated on white.

A Repeat of 2008

The bear thesis on oil is a simple one. Oil always gets crushed by more than 40% in recessions. And right now, we’re walking hand-in-barrel into a recession. Black gold is trading near all-time highs ahead of demand destruction and massively overstated supply constraints. So, get ready because oil prices could get crushed in a big way.

This is exactly what happened in 2008.

During the first half of the year, oil prices surged. And stocks struggled on worries of supply constraints, underinvestment in refining capacity, and a still-strong demand for oil. Yet, in the back half of the year, a recession hit. And suddenly, demand collapsed, rendering the supply constraints meaningless. Oil prices dropped 80% in six months.

The parallels to 2022 are eerily similar, right down to the price action. Just look at the following chart. The current oil bull market (blue) is trending in step with the 2007-08 bull market (orange).

is the current oil bull market about to crash
© Provided by InvestorPlaceis the current oil bull market about to crash

Both soared from $50 per barrel to $100-plus in about 300 days. Both took another 50 to 75 days to climb to $120-plus oil. And both started to show signs of weakness about 375 days in.

As of today, we’re about 390 days past $50 oil in the current cycle. At present, oil prices are 15% off their recent highs. At this point in the 2008 oil bull market, oil prices were about 17% off their recent highs.

The rally. The peak. The decline. They all line up almost perfectly. That means that if the U.S. economy does spiral into a recession in 2022-23, what comes next could be an epic crash in oil prices.

We think that’s exactly what’s going to happen. As a result, the strategy here should be to ditch oil and buy recession-proof stocks.

 

Edited by notsonice

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.