Or you’ve only read headlines and not what actually happened at COP26. I’m probably younger than most realise here.
The major emitters in the developing world basically tell us to get stuffed. Have demanded $US1.3 trillion in grants from the wealthier nations for ‘climate change’ and energy transition. Absolute farce. We continue to shutdown heavy industry like the rest of the west and merely shift it to the third world, pat ourselves on our back, yet haven’t lowered emissions at all from a global perspective. Merely shifted them between the first world to the third world. You think China is going to actually agree to this? When commercial contracts with them are not worth the paper they are written on?
India, and I cannot blame them, had the useless summit wording changed on coal. Most of the promises will be when these leaders are most likely dead. These poorer nations need coal, a cheap reliever baseload power source to get out of poverty. Inner city latte sippers driving 200k Tesla’s seem to forget that 10s of millions on inidians cook dinner on cow dung as they don’t have energy. No amount of virtue signalling from rich westerns will change their need for coal.
As the CEO of Woodside elegantly said, these green activists are detached from reality. Renewable and current technology is intermittent and not viable. The sheer land mass as well as other non renewable materials they require is enormous, not to mention environmental hazard to nature.
When and if new technologies occur over time, sure, let’s use them. However I’ll continue to roll my eyes when people talk of no thermal coal, unless they are pro nuclear which will achieve emissions targets and baseload. I’m still all ears for met coal replacements too. BHP is predominantly a met coal producer…. Enlighten me
BHP Price at posting:
$36.04 Sentiment: Buy Disclosure: Held
(20min delay)