Reuters now admits total climate fiasco! ‘The pursuit of net zero carbon emissions has been a
resounding failure.
Despite trillions of dollars spent on renewable energy, hydrocarbons still account for over 80% of the world’s primary energy’
Feb 27 (Reuters Breakingviews) – The pursuit of net zero carbon emissions has been a resounding failure. Despite trillions of dollars spent on renewable energy, hydrocarbons still account for over 80% of the world’s primary energy and a similar share of recent increases in energy consumption, according to The Energy Institute. Coal, oil and natural gas production are at record highs. Emissions of greenhouse gases continue to rise inexorably. The financial markets were already losing confidence in the energy transition before Donald Trump returned to the White House. A more realistic approach to climate policy is urgently needed.
… Solar and wind power have grown to a mere 3.5% of primary energy production. The levelised cost of renewable energy – which measures of the net present value of electricity produced over a plant’s lifetime – has declined sharply over the years. But this has not resulted into lower electricity prices. In fact, as the share of the energy mix provided by renewables has risen, electricity prices have tended to increase. That’s because wind and solar power are intermittent. Since storing energy in batteries is uneconomic, traditional sources of power are still needed as backup, which is expensive.
Scatter plot showing the relationship between industrial energy prices and electricity generated by renewables ...
Targets for reducing greenhouse gas emissions are measured on territorial production. This incentivises countries to switch from domestic manufacturing to importing energy intensive goods, often from countries such as China and India, whose factories are largely powered by coal-powered electricity. Thus, the reduction in an individual country’s emissions can lead to an increase in global emissions. …
https://www.climatedepot.com/2025/02/28/reuters-now-admits-climate-failure-the-pursuit-of-net-zero-carbon-emissions-has-been-a-resounding-failure-despite-trillions-of-dollars-spent-on-renewable-energy-hydrocarbons-still-account-for/
