Mark Mills talks to Alex Epstein (The Moral Case for Fossil Fuels) about the fake news spread by RE enthusiasts. There is gold in the first ten minutes for busy Cats.
A few key points – RE penetration of the power system looks impressive – getting to 20% off a zero base – but that barely nudges the needle of total energy consumption. See the pie chart of primary energy consumption in the UK.
Electricity consumption in cyberspace for bitcoin and other AI applications is just starting to take off. A year or two ago bitcoin was using as much power as the Republic of Ireland and the requirement for AI will increase exponentially.
Coal is still king for electricity generation and that cannot change in Australia (see the four icebergs that will sink the Titanic of RE) and it will not change in the developing world until it is replaced with nuclear power.