A cascade of port regulations will eventually prevent dirty ships from entering the world’s major shopping malls, with obvious implications. The pioneers of green fuel will be the new super majors, shifting loads of crude imported from the Gulf.
“We can generate solar at a level cost of three cents per kilowatt,” said Sumant Sinha, founder of India’s largest renewable company, ReNew Power. “That’s a fifth of the coal-based prices that utilities have to pay in the commercial market today.”
Goldman Sachs and the giant fund ADIA in Abu Dhabi have taken a stake in the company. They don’t need suggestions from Mr. Climate Moralists. Kirk. It is clear where this is going. India’s energy demand is soaring by 7% a year, and it will not come from ruinously expensive coal.
“Businesses are moving forward with decarbonization, and we’re not doing it to tick a box. If we model an oil price of $ 200 a barrel for our business, the impact is unsustainable,” said Elizabeth Gaines, executive director of Australian iron ore group Fortescue.
His company is going to hell for the skin with green ammonia made from solar panels inside, betting that China will switch from coal-fired furnaces to clean steel much sooner than markets think, or Beijing order.
The higher the prices of oil, gas and coal, and the longer the current energy crisis lasts, the greater the imperative to make the green leap.