Magicians Misdirect Their Audiences—So Do Energy Advocates
I wrote a post yesterday poking fun at French investment bank Kepler Chevreux for their analysis that they claim has dramatic implications for the global oil industry. They estimate: “$100 billion invested in either wind energy or solar energy – and deployed as energy for light and commercial vehicles – will produce significantly more energy than that same $100 billion invested in oil” and go on to posit: “the implications, needless to say, are dramatic. It (sic) would signal the end of Big Oil, and the demise of an industry that has dominated the global economy and geo-politics, for the last few decades. And the need for it to reshape its business model around renewables.” (more…)