Please see below selected recent energy-related change.
- Oil prices have risen 65% since last June, touching a four year high of $75 a barrel in April 2018. Three things are driving up prices, according to GZEROMedia: ongoing production restraint from Russia and Saudi Arabia, dwindling production in Venezuela and Libya, and the prospect that US withdrawal from the Iran nuclear deal will mean fresh sanctions on Iranian oil exports.
- In April 2016, Britain went 55 hours without burning any coal, a new record.
- Nearly 80% of our energy still comes from fossil fuels, a figure that hasn’t changed since the first Earth Day.
- In 2017-18, activist shareholders have forced fossil-fuel companies to reveal the risks to their investments from climate change.
- In the US, local governments have become stewards of the environment. The UK went 55 hours without burning coal, which hasn’t happened since before the Industrial Revolution, while Portugal produced more renewable energy in March than energy it consumed. Meanwhile, poor countries are investing billions more in renewable energy than rich ones.
- Forecasters keep revising electric-vehicles sales figures upwards. Even technologies that were considered fanciful, such as carbon capture, are making a comeback.
- The Global Trends in Renewable Energy Investment report found that China, India and Brazil accounted for just over half of global investment in renewables excluding large hydro in 2017 with China alone representing 45%, up from 35% in 2016. Despite this, China bets heavily on coal abroad, with involvement in 240 coal-fired power projects in 25 countries of the Belt and Road.
Sources: Exponential View, Quartz