A new groundbreaking report , Wells, Wires and Wheels, shows a huge capital-efficiency advantage of solar and wind over oil. The report introduces “the concept of the Energy Return on Capital Invested (EROCI)…a metric that allows for the comparison of the energy yielded from a given level of investment in different energy sources,” as it applies to vehicles—cars, light and heavy vehicles.
From Bad to Worse for Big Oil
In this potentially game-changing report, BNP Paribas shows how “the economics of oil for gasoline and diesel vehicles versus wind and solar-powered EVs are now in relentless and irreversible decline, with far-reaching implications for both policymakers and the oil majors.”
Wells, Wires and Wheels follows recent headlines that paint a dismal future for Big Oil. Norway Is Walking Away From Billions Of Barrels of Oil. Frackers Face Harsh Reality As Wall Street Backs Away. ‘Oil’ and “Gas Become Dirty Words in FTSE Rebranding. And there’s more, a lot more.
Jeremy’s conclusion: This really is seismic stuff, with huge implications for all the issues that depend on solar and other survival technologies accelerating faster, and the incumbency—Big Oil—fully retreating from its planet-wrecking civilisation-imperilling rearguard defence of oil and gas.
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