From NOT A LOT OF PEOPLE KNOW THAT
By Paul Homewood
The BBC need to know why the world continues to be exploring for oil, fuel and coal:
https://www.bbc.co.uk/programmes/m001sr6f
It’s simply as properly that we’re nonetheless exploring, as a result of if we don’t the world’s economic system would quickly collapse.
Given the truth that the world nonetheless will get 82% of its vitality from fossil fuels, and that vitality demand continues to extend 12 months on 12 months, there’s merely no chance that we might shortly swap to an all renewable economic system.
And this ignores the truth that we’ll nonetheless proceed to wish fossil fuels for non-energy use.
BP Power Evaluate
The BBC appear to assume that if we cease drilling now, it gained’t have an effect on us for many years; that we’ve “loads of fossil fuels” already out there to us which is able to final for years. However life will not be like that.
Yearly, new capability comes on stream. However yearly, older capability is shut down, or its productiveness quickly diminished. Usually oil and fuel fields have between 20 and 40 years of great manufacturing, and as we’ve seen within the North Sea output has been tailing off for as few years. If no new capability is introduced on, we might probably lose 1 / 4 of the world’s provide inside a decade or so.
Based on the IEA, 5.9 mbd of web extra oil capability is projected to come back on line by 2028, however this can solely be sufficient to satisfy demand. In different phrases, that is web of the lack of current capability. The gross capability addition might be double this quantity.
Annual oil consumption is 97 mbd, so if the BBC bought its means the world could be going through a critical scarcity of oil inside a number of quick years. The financial and social penalties of this could be catastrophic.
Richard Bilton, who introduced this Panorama in La La Land report, has completely no expertise of or {qualifications} in vitality or economics. Based on his BBC resume, his background is especially in social affairs.
Maybe subsequent time the BBC would possibly get a journalist who really understands the vitality sector to current Panorama programmes on fossil fuels.
And right here’s a bonus article from NOT A LOT OF PEOPLE KNOW THAT about Richard Bilton
