The COVID-19 Pandemic Throws Oil and Coal Industries in a Tailspin

(This post was published earlier this year on Medium. Sorry for the lack of content this year. Hopefully, 2021 will bring more exciting stories and analysis…) The ongoing COVID-19 pandemic has brought our global economy to a standstill, with fears of the worst recession since 1929. Over 26 millions have already lost their jobs in… Continue reading The COVID-19 Pandemic Throws Oil and Coal Industries in a Tailspin

Global coal and oil use to peak in 2020

That’s it ! Renewable energy sources and electric vehicles are progressing so fast around the world that according to a new study coal and oil use could peak worldwide in as little as three years.

Costa Rican electricity was 100 percent renewables for 113 days

Another world is possible. It is always a question of public willingness. The latest example of this is Costa Rica – 4.9 million inhabitants strong – which ran for almost four months on a hundred percent renewable electricity.

2015 was another record year for renewables

According to two recent studies, 2015 was yet another record year for renewable energy sources as no less than $285.9 billion (256 billion euros) have been invested in that sector last year. 

The European Union already cut its emissions by 23 percent

While the European Union officials – not ” leaders ” – keep on clinging to 20 % emissions reductions by 2020, the Union has already slashed its emissions by 23 percent. This is taking place ahead of the Paris Climate Conference later this year.

Saudi Arabia is planning its fossil fuels’ exit by 2050

While the G7 Nations are thinking about whining themselves off fossil fuels by the end of the century and while some – most ? – oil companies are not really diversifying themselves, Saudi Arabia is planning its fossil fuels’ exit by 2040 or 2050.

G7 Nations to decarbonize their economies

Now these are great news but there is a major catch, or perhaps two… The first one the date : by 2100, as in 85 years… The second one, they didn’t say even how they would cut emissions. 

Fossil fuels subsidies are worth $5.3 trillion

$5.3 trillion (or 4.7 trillion euros) : those are staggering figures as they amount to $10 million every single minute. The figures come from the International Monetary Fund, so one can be pretty sure of them.