EIA and IEA are out with projections for emissions and fossil fuel consumption. And so they don’t look good.
On our current policy trajectory, there isn’t a peak in sight, based on EIA By 2050, we’ll likely see a 50% increase in energy consumption. And despite the fact that renewables will probably be the fastest-growing latest source of energy, hydrocarbon liquid fuels will meet nearly all of demand.
Meaning emissions could rise through 2050, absent massive changes to policy.
In July, the International Energy Agency issued an identical evaluation showing that carbon emissions will hit record levels in the approaching years. And that spending packages around the globe — even at historic levels — are still not enough.
How can we make sense of this sobering evaluation?
Plus, Wood Mackenzie is out with a latest evaluation of worldwide energy storage trends, showing that storage deployments are set to triple this 12 months. Most of that growth is coming from America and China, which account for 70% of installations. What are the applications, technologies and markets that may dominate this growth?
Finally, Europe is in a crisis headed into winter. Natural gas is the second-most confused fuel in Europe — and costs are 6 times higher than they were within the spring.
A confluence of things — rapidly rising demand suddenly, lower production than expected from Russia, low storage in Europe, lower-than-expected hydro and wind production — are contributing to the issue.
What could alleviate the crisis? And does this put strain on Europe’s climate ambitions headed into COP26?
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