Despite spending $1.8 Trillion on “clean energy” last year, the world is still 81% fossil fueled — burning more than ever!
By Jo Nova
Global fossil fuel use hits a new record level in 2023
We spent $1.77 Trillion dollars on the clean energy transition last year, yet our fossil fuel use is still rising and our emissions are still increasing.
The Energy Institute released their annual “Statistical Review of World Energy”. Total energy used in the world went up by 2% showing no sign of slowing down. For the first time, more coal was used in India than Europe and North America combined, a trend that is unlikely to stop soon. Despite there being more EVs on Earth than ever before, oil consumption was up 2% to above 100 million barrels for the first time. China overtook the US as the country with the largest oil refining capacity in the world last year at 18.5 million bpd. But the US overtook Qatar as the largest exporter of LNG. And global man-made emissions of carbon dioxide exceeded 40 gigatons for the first time.
Imagine what a different place the world would be if we spent that money on something useful? Just a tenth of that might provide clean water and sanitation for the poorest of the poor and stop children dying of dysentery. Instead, wealthy nations build spinning totem poles — hoping they’ll give us the perfect amount of rain 80 years from now.
Despite what they say, we are still a fossil fueled world. Coal, oil and gas made up 81.5% of the world’s total consumption of energy, down from 82% a year before.
https://joannenova.com.au/2024/06/despite-spending-1-8-trillion-on-clean-energy-last-year-the-world-is-still-81-fossil-fueled-burning-more-than-ever/
