Opening of ABC Carbon Express Issue 218
Arrival of the New World Energy Order
It’s Halloween and our news might well be scarier for some than ghosts, bloodletting and carved pumpkins.The days of fossil fuel dominance are over. There, we said it. The clean energy revolution is underway. No figment of the imagination of pumped up green groups. Or journalists like me who’ve spent more time and space on climate change and clean energy than anything else for the best part of ten years. No exaggerated claims by renewable energy companies in the business of promoting solar, wind, hydro, wave or tidal. This is a fact. Evidence? On the front page of the very conservative organ of global busines. The Financial Times no less. With the headline on the front page:
Green energy overtakes coal as biggest source of power capacity. Read that again and the quote:
“We are witnessing a transformation of global power markets led by renewables”.
Who said that? The most astute and well-informed energy economist in the world today. None other than Fatih Birol of the International Energy Agency (IEA). Here’s the story to click on: Financial Times front page 26 October 2016.
We spent much of the past week covering the Singapore International Energy Week, where industry leaders, Energy Ministers and advocates on most sides of the new energy debate, assembled to talk and exhibit. Energy journalists and analysts still make skeptical sounds as some fossil fuel companies insist that there’s always going to be a place for coal, oil, and gas. But there’s no turning back. The reality of climate change and the acceptance of the “clear and present danger” that fossil fuels have been – and still are – when it comes to polluting our atmosphere, earth and oceans.
So there’s good news of course, but there’s still the sad news that it’s going to take some time to recover. But there is clearly no alternative – the world must invest much more of its time, attention and money on clean sources of energy. No going back. No more dirty talk. The New World Order for Energy is here to stay, For good. – Ken Hickson
31 October 2016