And yet, the lure of continuing to make billions on fossil fuels is predominate. Case examples of that are rampant here in the US...the debacle in Texas being the latest example. Another example can be found in India:Even businesses are now understanding the cost of doing nothing, this is another sign that the culture is moving in the right direction. As we continue to move in this direction, bolder action becomes politically feasible.
https://scroll.in/article/967951/ind...-deeply-flawed
There is serious push-back on all of this, especially on indigenous groups likely to be severely impacted by the opening of new mines, but will it be enough to overcome the stated policies of the Mohdi government?However, the push and focus on renewable do not mean India is cutting down its focus on coal. According to Coal India Limited, in the next five years, it is going to open 55 new coal mines and expand at least 193 present ones. Together, these two steps will ensure an increase of 400 million tonnes in coal production. CIL has about 463 coal blocks with which the country can continue thermal power production for another 275 years.
Karthik Ganesan, who is a research fellow at the Council on Energy, Environment and Water, said, “India’s coal demand could grow by up to 30% by 2030, and we need to source that coal and have reliable supply options.”
Another example would be China:
https://www.powermag.com/chinas-econ...wered-by-coal/
Of the top three coal producers, only the US has shown a decline in coal usage (mainly because of the switch to natural gas & renewables):When China faced economic upheaval a decade ago, the government provided massive amounts of stimulus into the economy, with state-owned enterprises spending large sums of money to offset a collapse in exports, which resulted in increased electricity demand. China increased its construction of coal-fired generators, and its coal consumption increased by 13% between 2009 and 2011, according to BP’s Statistical Review of World Energy 2020.
While other countries, such as Japan and India, are building coal-fired power plants, China is adding the most coal-fired capacity of any country by orders of magnitude. China added 32 GW of coal-fired capacity in 2018, and 44 GW of new coal capacity in 2019. Almost 100 GW are under construction, and another 105 GW are either permitted or applying for permits.
In an apparent move to stimulate its domestic economy, China has surged its new coal plant permitting. Between March 1 and March 18, 2020, authorities in China permitted more coal-fired capacity for construction (7,960 MW) than they did in all of 2019 (6,310 MW). China’s local governments favor coal-fired power plants as tools for economic development and for the baseload power they provide, which is essential for reliability, particularly when a pandemic like COVID-19 hits and hospitals need electricity to operate medical equipment 24/7, keeping people alive. China has substantial domestic coal reserves—142 billion metric tons as of the end of 2019—13% of the world’s total, and as such, coal is a secure energy source and a reliable generating fuel.
https://www.forbes.com/sites/joshuar...ly-burned-out/
Mixed bag amongst the top three coal producers/consumers, but the top two are definitely planning to expand production to increase energy self-sufficiency, and promises to the poor of increased employment opportunities---critical in economies recovering from the pandemic.However, coal has largely fallen out of favor for electricity production as price declines in natural gas and, to a lesser extent, renewables have made it harder for coal plants to make money in electricity markets. The average US coal plant is now over 40 years old, and there is not a single commercial coal plant under construction in the country. Some scenarios have coal generation remaining flat for the next couple of decades, but most market fundamentals and societal goals indicate further declines.
In the past decade, over 500 coal-fired power units have been retired, or announced their retirement. Further, it is estimated that over 85% of existing coal plants will be uneconomic compared to local renewables by 2025. These dire conditions have many states with regulated electricity markets scrambling to either financially support uneconomic coal plants or provide securitization strategies to allow them to retire early while still making good on their debts. As demand for coal has declined, almost a dozen coal mining companies have filed for bankruptcy in the past 5 years.
Given what I just sourced (and I'm not trying to insult you with "my sources are better than yours") I'd like to see contradictory informationEconomics of renewables is already cost competitive to the point where planned orders of new coal plants in India and other countries have been cancelled, to be filled by solar plants.
Even if the world dropped CO2 emissions to zero tomorrow, there would still be a 20-25 year overrun in the deleterious effects on climate.
Also, many climate change topics just discuss the overall temperature increase, but there's really two separate numbers to look at:
https://www.climate.gov/news-feature...n-heat-content
This is where the "overrun" happens. So far, our oceans have saved our butts from catastrophic temperature rises, and scientists have only a vague idea of how much more heat the oceans can store. Suffice it to say, that at some point, the 90% withdrawal rate will decrease, or come to a 50/50 equilibrium, and land surface temps will climb as a result.More than 90 percent of the warming that happened on Earth between 1971-2010 occurred in the ocean. Heat already stored in the ocean will eventually be released, committing Earth to additional surface warming in the future.
I DO agree with ACIN on one point---we are fucked....unless....we develop more carbon capture technology and make it profitable for businesses to do so.
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