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Bikida

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30/05/17

14:54

Post #: 24993828
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Originally posted by bobsacramento ↑

Yeah, i mean that's part of it, but the other main reason, is that the non-renewable (fossil fuel/big oil) don't want to lose their market share, and steady stream profits. This renewable energy transition represents a huge, disruption, to the tradition, non-renewable sector, and if they don't try to slow this progression down, they will lose billions. For them, i will argue is matter of survival, no matter what PR they want to release downplaying the sector. For them, controlling market share is everything. My biggest example is, a non-Australian example, the Saudi Aramco public IPO. The timing of that IPO, is no coincidence, because prior to this, the kingdom has no need to share the company with the public or even allow reporters to the inner sanctum of the kingdom if they were convinced that oil would be a steady stream of revenue. This movie was done to trim the reliance on oil for the future, and generate revenue from investments that are non-oil based.

https://www.bloomberg.com/news/feat...project-to-get-saudi-arabia-s-economy-off-oil

As for democracies, ie the rest of the world including US and Australia, they are slow to transition, but I do see slow transitions (via private investments) being made. Their is resistance to change, but I don't think they can afford to stall for much longer, because ultimately, the cheapest approach prevails, and it's a matter of time.

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Yep, the Saudis and the the UAE don't have to 'market' themselves, and once in a position they aren't so beholden to protect that position. Also being cash positive they don't have to protect a debt position.

For example, Dubai (I think, one of the Emirates at any rate) has the world record for the lowest cost solar+battery energy supply at $US0.0254 per kWhr, unsubsidised. With all the gas they have, they are building solar plants because it makes business sense.

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