A bit of light reading from JP Morgan, facing some of the facts.
Humans will be wedded to petroleum and other fossil fuels for longer than they would like. Wind and solar power reach new heights every year but still represent just 5% of global primary energy consumption. In this year’s energy paper, we review why decarbonization is taking so long: transmission obstacles, industrial energy use, the gargantuan mineral and pipeline demands of sequestration and the slow motion EV revolution. Other topics include our oil & gas views, President Biden’s energy agenda, China, the Texas power outage and client questions on electrified shipping, sustainable aviation fuels, low energy nuclear power, hydrogen and carbon accounting.
More there than most of us want to know, but a handy source for reference.
Closer to home it is amusing to read in the Energy Security Board’s survey of the scene for the new energy market arrangements that Yallourn power station will close ahead of schedule and Energy Australia will help out with a 4-hour 350MW battery. That is to replace a plant that generates 1400 MW 24 hours a day, every day, barring maintenance time.