Oil and gas companies are facing major technological disruption
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- čas přidán 19. 09. 2016
- Pressure to reduce carbon emissions is putting the future of fossil fuel giants in jeopardy. Their survival plans involve carbon storage and floating wind farms. Meanwhile, one small German village is showing how large companies aren't always essential.
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Over 80% of the world's energy needs are provided by coal, oil and gas. Although technologies to extract fossil fuels may have changed over the decades, the core products themselves have never been challenged. Until now.
Pressure to reduce carbon emissions is putting the future of fossil fuel giants in jeopardy. Encouraging the growth of alternative methods to generate and distribute power.
In just eight years, the value of the world's biggest power companies has halved. Leaving industry giants scrambling to redefine their role in this new energy world. Across the world, old industries are facing disruption on an unprecedented scale. The pressure to adapt has never been greater.
Known as the Paris Accord, 195 countries agreed to a legally binding climate deal to reduce carbon emissions. This 5 trillion dollar industry may be facing a seismic shift but that doesn't mean it's ready to ditch the dirty fossil fuels that made it rich. Instead, many companies are banking on new methods to clean up an old process. Norwegian oil and gas giant, Statoil, struck it rich in the North Sea in the late 1960s. Over four decades later, at its Sleipner gas rig, the company is attempting to make fossil fuel production cleaner.
Statoil's business still relies on the harmful burning of fossil fuels by its customers but at least the company is trying to reduce its own carbon footprint. It's transformed some of its offshore rigs with technology that enables engineers to separate the carbon dioxide and pump it underground. Statoil's Sleipner gas rig is the world's first offshore carbon capture storage plant.
Each year, Statoil stores 1 million tonnes of CO2 making extraction less carbon intensive. They believe that prioritising gas over more harmful fossil fuels will further reduce global warming and keep them relevant for decades to come.
Wind and solar are cleaner but depend on subsidies. To take on the consistency of fossil fuels they face a huge challenge - The unpredictable weather. In Bavaria, a tiny village has used those subsidies to take up the challenge. This community believes it's found a way to produce a steady energy supply just from renewable sources, raising the real prospect of a future free from fossil fuels. Norbert and Kristina Bechteler's family farm has been providing the local community with dairy products for over 200 years but they now have a new income from solar energy.
Producing your own energy with solar panels isn't revolutionary but in this village, they're combining solar with other renewables in an attempt to achieve the Holy Grail of a steady energy supply. And they're prepared to use anything to do it. The Deputy Mayor has helped drive the village's pioneering efforts to make renewable energy a realistic option.
There's one renewable that never disappears as it can be sourced from the decay of virtually any organic matter and it's called biogas. Of the four biogas plants in the village, Farmer Einsiedler runs the largest. Combining these different sources has been so successful the village now generates five times more energy than it needs. But that is just part of the challenge of turning renewables into a credible energy supply.
The Disrupters is an original series exploring how major industries - from music and cars to hospitality - are currently being disrupted by the latest wave of digital innovation. As well as enjoying privileged access into the world biggest tech start ups we show how industry giants respond when faced with such tech-driven innovation - do they adapt - or die?
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Man its a good thing that after losing 75% of their stock price this company was "brave" enough to embrace renewables. It only took a small village to pave the way
good luck getting ur meds from ur village
American fossil fuel companies are doing everything they can to stop a better future for our kids. 1,000 energy cooperatives in germany. Those who dont transition to new tech and the new system are doomed to the horse and buggy.
completely ignore the drop in oil prices ey?
@@correctionguy7632 Due to fracking oil companies were forced to lower the price.
Eon Flux - An excellent example of what happens to energy prices when green energy is mandated and renewables are subsidized. Check out the cost per KWh to the average household in California.
Instead of using government as the big stick, let’s find a balance. Otherwise we might find ourselves in the same position as Australia.
"gas and oil are flexible but wind and solar need subsidies" woooopsie, forgot to mention the billions and billions dollars we pay in subsidies for oil and gas corporations... gee-willikers!
Exactly. The price of these energy sources has gone down dramatically only in the past 10 years and enable to increase the amount of these clean and renewable energy sources to be multiplied by 30 times. As long as I recall, the current price is only 30% more expensive. Imagine all the benefits though: no more polar ice melting, no more climate change/pollution, no more destroyed ecosystem, more available energy, healthier citizens, etc. The cost means nothing!
and actually wind turbines have reached a point where subsidies are no longer needed; as demonstrated by the contract bids for the coming wind farms in northern europe
Sasquach 2001, Jan Mortensen, and 011azr
Good luck forging and casting and shaping all those large, heavy electric windmill parts and pieces, especially in mass production.. without the thermal heat of burning Coal in a massive industrial furnace.
Electric furnaces are a thing, and their electric power can be produced with green energy sources.
At supreme Inefficiencies. Again, it's like inputting 10 dollars to get only 2 dollars back. There's no difference between this and the Oil Industry you Greenies love to hate so much, except oil is far and away more efficient.
After greeting
I am an Egyptian engineer
I see many solar lighting poles that are not working or are now replaced with LEDs
Replacement of solar energy to return to electricity This is due to the maintenance of glass panels for special purposes
I decided to modify these panels so that they are automatically cleaned every day by a large percentage and do not need monthly maintenance work at all
However, after modification, maintenance will be performed once every 8 months
This project does not cost much but saves a lot of money and ensures the longevity of the battery
Thanks for your attention
Hassan Shaker Mohamed
Thanks Hassan for the insight
Did I just watch a commercial for StatOil?
Wes Floyd yep!
Happily, yes.
It's healthy to hear out the perspective of established fossil fuel giants that are now branching into renewable energy. They deserve some credit for taking the risks that could erode their former core business, and they also have the clout and funding to build momentum behind expensive and ambitious green energy projects.
Wes Floyd
Maybe so but why is it a bad thing if it is?
For me as a nobody it means nothing that I hear StatOil mentioned here.. I haven't really heard about it before and will forget about a It soon..
Even if I do remember it.. What do they gain with it?
Mzaphod Bibl - gain? PR, doubtly much of any profit (at least not right now). theyre not a private company, theyre owned by the norwegian government which brings in huge incomes and therby a lot relies on their existence and a good public image both home and abroad. theyve also used offshore hydro to power the electricity usage of some of the rigs.
There is no such thing as clean fossil fuel.
chethan salahalli thippeswamy
There's no such thing as clean manufacturing of renewable energy plants.
Just because you disassociate by one level in the process, doesn't mean you are any less reliant on fossil fuel energy. Coal for metal casting parts, diesel and gas for construction equipment to build the location, etc.
Trevor H exactly
Trevor H, even if what you claim has some truth in it, you must keep in mind that the change has to start somewhere. It cannot happen from one day to another. I am pretty sure you'd agree with a future where all the plants, construction work, etc. will use electricity as a fuel which is generated from renewable sources. Can you see that bigger picture? The point is not to immediately turn away from fossil fuels, that's just simply isn't feasible. The point is to work towards a more sustainable future.
Tivadar Balazs
No, actually I do not agree with that future. I want a future where solar thermal and wind mechanical are used, with free wireless and battery-less electricity like Nikola Tesla envisioned. Also airships instead of planes and massive congested roads, and large swaths of common forest and greenery where humanity lives creatively and in harmony with nature and itself, but that's neither here nor there.
Of course it cannot all happen in one day. That is why I am sowing the seeds today, that they may grow large and bounteous in the future. If everyone was active and did their part, it could happen in not so many years. Will you join me in sowing and tending the crop?
Trevor H I do look for ways in which I could contribute to that kind of future. :) So we are kinda already connected in some ways.
Correction: the Paris agreement was NOT BINDING.
Ouch, too soon.... The pain is still fresh...
Trump was right to quit the Paris agreement,
cos the problem will not be solved by money squandering bureaucrats and activist 'scientists'.
Trump was right to quit from reality, MAGA and what ever other populist BS ppl like to hear from the crazy old man...
Trump's first move to get big oil contributions was to end the USA from the Paris Agreement....did he think no one would notice?
@@laurier3348 Scientists work by facts, Trump works by his ego.
It amazes me that some people are more keen on preserving man-made industries than the planet that sustains our very lives. You know, the giant sphere necessary to our survival? That one.
those very badly (guess which dimwit talks like that) socialist countries again with their "doing good for the planet, people and industries" BS! can't stand 'em!!!
If you work in one of them then you would be even if it's bad for the world it would be good for you since you wouldn't be out of a job.
Red: If you worked for one it would be wise to educate yourself in other fields and leave. Then you wouldn't be hypocritical and part of the problem!
Plants love CO2 and warmth. Save the planet by producing more CO2 and more warmth.
But I thought we wanted to pollute and deplete earth’s resources so we can experience a real apocalypse.
"deliver oil and gas to the world....in a sustainable manner" spewed my coffee at the atrocious impossibility.
What a waste of good coffee, lies like that should be outlawed.
@@PandemoniumMeltDown so should the Royal Families and their CABAL scumbags along with their central banking scheme
Haha right?
I agree just look at the Exxon Valdez where the drunken captain and the third mate destroyed millions of acres pristine Alaskan coastline and let's look at the gulf of Mexico and the British petroleum blowout on the preventer provided by the environmentally responsible folks at halliburton more destruction of a pristine coastline and all Obama's tough talk and they get off with just a minor fine and comparison to all the money they made. But the real horror of this can be seen it any veterans hospital where they have young men and even worse young women without arms and legs and this is the George Bush and his retarded son curious George and all the presidents who followed legacy, the last time a president stood up to Big Oil he was shot in Dealey Plaza on 22 November 1963.. and Big Oil spends money on politicians and corrupt Dictators, while people like Elon musk have never taken a dime of Government subsidies money but big oil gets paid subsidy to this very day. You are right about Big Oil and we should have been off it 50 years ago but until the last barrel of crude oil is pumped out of the ground the Royal Family and the Bush family and the house of Saud will lie cheat steal and kill for the last drop and the unconstitutional Federal Reserve Banking scheme keeps us in debt and them Rich and the Petro Dollar rules the world
4words,..credibility trashed.
"A dinosaur of an oil company" I see what you did there :)
I get it lol
We store it "forever and ever" ...
Are people stupid?
so what does happen?
In general, "Nothing lasts forever". Specifically, tectonic drift could theoretically open up rifts and release the gas. I'm sure there's some more that could be said but I'm no expert on the subject...
Maybe not forever, but it's one of the best options we have right now. Even if we're just pushing the problem into the future, considering the size of the problem we face now, that's still a good thing. And the timescale on which this stuff might leak is geological.
Today on XYZ News, The planet farted... The farmer in the Dell and all of Old Macdonald's ducks died from suffocation.
Can’t trust leftists because they create their own truths
Shouldn't have called it Uniper, should've called it E.Off
or F.off
“I think everyone in the oil and gas industry agrees that it’s going to be a different future...”
“When I started my career, we were a monopoly!”
"sustainable fossil fuels" LOL
What's so funny? Do you find the truth hilarious? Fossil fuels are utterly sustainable.
These guys are not the first home to offer storage systems in the world. In India, every middle class home has a battery backup to deal with unpredictable supply from the grid
Add some solar panels on the roof and you'll have a complete system.
4:45 >"Wind & solar... depend on subsidies"
Coal & Gas also depend on subsidies.
You honestly forgot this? WTF Economist
They are also charged royalties on land leased.
Gov't gets far more in tax revenue from oil and gas. In the case of renewable they GIVE them tax dollars just to keep them up and running. The current oil paradigm is a lot more affordable for the population. Just ask places like Ontario Canada how much their (renewable) power bill is. It's as much as their rent in some cases.
@@DoYouThinkForUrselF get tax revenue from oil? Are you talking about gas tax? Well, you also forgot military spending to secure oil in middle east. That is tax money too. lot lot lot lot of tax money.
@@DoYouThinkForUrselF I just installed $16000 solar panel last year and my energy bill drop from $2523.24/year to $121.74/year. I am doing good.
@@rocketomega11 That's good, actually amazing. I know a guy who spent 20 k on solar for his house in Edmonton Alberta Canada. He did not get any where near those results, sorry i can't remember the exact numbers. Maybe that is because we use more energy in the winter than in the summer and we have ALOT less light during the winter up here. Will ask him tomorrow. I also know in Ontario Canada energy bills went up a lot, some people paying as much as their rent to get energy. Hmm your numbers don't really add up, guess that could depend on a number of factors, size of your house, how many people, sunlight......the tech.....
This is amazing. First time to see the windmills standing on the ocean. Cheaper and greener electricity is all we need for a greener earth. Wind, water, solar energies are so natural and green.
The fossil companies should direct their efforts in investing in renewable energies, instead of wasting their time trying to make the process cleaner, just because it's cleaner, it doesn't mean the cars will stop polluting.
They already have. See most people who are all about shutting down fossil fuel companies have no clue what is really going on in the world.
@@WendyMcKee And whats that?
I always dream of this and now I see German using this technology. The US should do this.
The more I learn about energy the more I dislike big Oil and the coperate multinationals and all the corrupt entities behind it. I'm so glad to see so much technological progress toward energy independence. Thanks.
Oil and gas companies just made hundreds of billions of dollars of profits from the artificial super high gas and oil prices. Zero disruption.
Here now in Early 2019 solar and wind has in 3 years now become about the cheapest power for the grid. Interesting how short a time its taken.
Yep, funny thing about that. And solar & wind prices are expected to continue going down, followed by battery prices. Hahahahahahaha! Tough noodles, fossil fuels!
Because they are not stable nor reliable, hence the price drop. Fools!!
@@WendyMcKee Wrongo! Improvements in manufacturing methods have cut the cost of solar panels and batteries, so the solar farm can afford to charge less for the power, because they paid less for the panels. Wind turbines are bigger so they produce more power more consistently, so they can afford to charge less for the power. Solar and wind are now more stable and reliable than forty+ year old coal plants that can break down unexpectedly.
Battery prices have fallen significantly in just the last year because of increasing efficiency in manufacturing. Many smart people are researching improvements in battery technology. And batteries aren't needed until solar and wind combined make up more than half of the grid.
So,are you paying less for your electricity?
pollution is a crime against humanity
So is liberalism.
thank god at least 1 right wing nut to off set all the left wing nuts :)
none of your business - Please enlighten me with your infinite wisdom.
Please enlighten me with your infinite wisdom. I'm a libertarian at heart but ideology by itself doesn't solve a problem. So keep pretending just hating liberalism is a solution for anything. When did pragmatist become a dirty word?
The intrinsic mechanics of liberalism prevent growth. Liberalism requires leveraging the use of tax payer dollars to fund social programs run by bureaucrats and regulators with no checks and balances, nor criteria for performance standards. Being a self proclaimed Libertarian, you must know the economic pitfalls inherent in the present anti-Trump, social engineering (snowflake) movement.
To all people demonizing oil companies should notice that such companies going green have a greater impact than a new green company. Oil companies are starting to realize that they are energy companies, as soon they start investing in renewables, then the incentive to lobby against green energy just fades, and further speeds up the transition in a positive feedback loop. And we'll all be better for it.
2020 and it stills not enough...
Fifty Things Made From Oil
Several things we use today are made from oil including household products and fuel for various forms of transportation. Many of the cheap flights and car trips people take every year depend on oil for fuel to get them to their destination. Oil also plays a big role in the mechanics of cars during travel and planes during flights, keeping engines and parts running smoothly and helping extend their lifetime and usability. While new ways to produce energy are being researched and discovered, oil is still the biggest resource for making fuels for automobiles and planes serving different airlines.
This is why we need trains and trams, cars are a stupid idea.
And a fairly stupid one indeed!@@fuckfannyfiddlefart
all true, but not a reason to stop switching to renewables whereever possible.
Sorry but this a poor corporate promo with zero journalism.
The video was about the new technology that is arising, and thats why they talked a lot about the small german town. The part about Statoil and E.on-although focusing on corporations-was about the new technology and change that they're taking part in.
Also, the series is called the disrupters, and although the video focuses a lot on these corporations, they fit the category of disrupters.
It's only really a commercial if you're making a choice in their energy market, which is unlikely. What you just watched is a demonstration of how the old big energy companies are having to change, being forced by regulation, public opinion, and just common sense.
I'm actually on this video because about 2 hours ago I was at a lecture about offshore power in the north sea, where one of the two speakers was from Shell. While I still think big oil could do more, and they certainly have bad reputations for good historical reasons, the simple fact is that a hard business analysis, looking into the future, is driving them to slowly turn towards renewables, or they will eventually die out. Tougher regulations are being pushed for (certainly in the EU), fossil fuels are running out, and renewables are getting significantly cheaper by the year. Completely ignoring climate change and the environment, those three things alone are enough to drive this change.
You make not like these companies, I certainly don't, but due to their sheer size and share in the market, what they are doing now with renewables is important. And the title of the video is about the disruption that's coming, not an overview of their total operations. So the video was exactly what you'd expect.
jhon doe go on then mate show us some of your data to back yourself up :)
and while I'm here, what's up with this reflex reaction against subsidizing solar?
The markets are very good at certain things, such as driving efficiency and innovation within the current paradigm.
Markets are fucking shite when it comes to planning for the future, or breaking up the existing power structures, even when those existing power structures are steaming along happily towards self destruction.
Solar is a tech we will likely need for the future. Nobody serious is claiming it is ready yet to support what we will eventually need of it, but if we don't subsidize it, the technology has no chance of reaching the required maturity in time. People forget that research is not only a case of money and will: pouring in resources in 50 years time when we are desperate won't necessarily be enough. So we subsidize it it now, to allow it to develop so it's ready when we need it. What's wrong with that?
Oh and, what about coal subsidies?
Energy in general always gets subsidized, because it's expensive, vital to the economy, and provides a lot of jobs, and that holds for both renewables and fossil fuels.
Not to mention, of course, the insane money spent protecting oil interests abroad, which is a bit more vague and ambiguous, but could easily dwarf direct subsidies.
It is good to see them starting to change. It still takes oil to produce all the solar panels and the plastics for the wind turbines. I look forward to the next step where each house or street has a zero point energy device to plug into.
What's great about windmills is that they not only provide energy at very specific times when the wind is blowing, but can provide large amounts of free protein to the local population. This seagul i found today tastes great.
I'm happy that world is taking huge steps towards renewable energy
"A new decentralized world of energy production" with government subsidies at the core. Yeah, real decentralized there guys.
eventually they wont need subsidies, and can even be taxed. And every homeowner with solar panels controls a tiny part of the energy production, so yeah, decentralized.
its becoming cheaper and cheaper. Also the town they visit clearly is an example that government subsidies aren't need, because they are now producing 5 times the amount of energy they use, so it's actually profitable.
ok no subsidies just taxes on fossil fuels and hot air instead...
Unless governments stop interfering immediately the actual cost (once sorted out from government taxes and subsidies) will not go down, innovation and slow down and in the end we will lose out on great energy sources.
They will find a way to tax every home that uses solar panels , this will lead to war with the government.
Nice video but science is no where near ready to replace oil and gas.
NPR ran an interview with a MIT scientist hammering oil and gas effects on the environment. At the end of the show the host asked the guest, “ so you agree the Keystone pipeline is not necessary?” The scientist shockingly replied, “ oh no, we need it because we are no where near ready to replace the continents massive energy demands with any other form of energy.” It was a mic drop. The host was in shock.
This village shown in Germany is more clean, planned and organised than most cities of India.
#Admiration
The Paris Agreement is not legally binding... It is a volunteery agreement and that's why we have it.
They are finding a way now to make it binding. All they do is agree on it, and then the governments of each signatory country has the job of FORCING drastic new laws down their citizens throats. In The Netherlands, the government went on and on about eliminating cars and going zero carbon emissions...and then a bunch of environmentalists took the government to court for not acting on it's plan...and the judge ruled that the government HAD to carry out the plans it got elected on to reduce emissions. And that's why the farmers got their tractors out and blockaded the streets around the capital because these new laws were going to eliminate their farms. This is coming to all western countries...the total destruction of their economies...that's the real goal of the Paris Climate Treaty.
"oil, that's old fashioned"
can't wait to say that.
😂😂😂
And here we are today and the Oil & Gas majors are doing just fine :)
It turns out the fossil fuel industry receive the most subsidise of any form of energy
I'm sick & tired of these stupid commercials
That grandma's deathly stare after turning around suddenly... Geeeeeesh.
PS: This is an ad for pro-fossil fuel burning.
That was 2016. The latest offshore wind auctions for the north sea required no subsidy.
Excellent short Economist, thank you for shining a light on the future of energy. Public awareness will play a key part in the development of this sector.
"Attempt to make fossil fuel production cleaner" won't solve anything with carbon admission from the oil. Also, Tesla battery is better.
Storing CO2 underground "for ever and ever'......hahahaha..... and those corporations wnat us to believe that...
Cybair corporate:madhafaka :: corporate:fathafaka
Cybair yea .sounds like complete bullshit.
everyone forgot that plants and trees breathe co2.
"corporations" - you mean a public owned company
Wow Cyb you're a real Julius Caesar can't fool you. That CO2 could escape sometime in the next billion years.
Nobody mentioned the role of electric vehicles as BI-DIRECTIONAL energy tools. While they're plugged-in (witch is most of the time for cars), in the future, they'll be able to provide a huge amount of electric storage capacity. Imagine millions of electric cars storing tens of million kWh. I'd focus, from now on, in developing cheaper, lighter, eco-friendly car batteries. Believe me, I'm a retired Electrical Engineer, worked for 40yrs in the oil industry. That's the Future
The thing is, people would also put their electrical vehicles to charge at night, after they get back from work, after it's already dark and renewables tend to produce less while they will have to turn on conventional power plants (now at a lower efficiency because they dont have the time to heat up properly) and your carbon emissions go up as we have seen in Germany. Instead, just build more nuclear power plants which have the same carbon emissions and health risks (almost none at all) to renewables but use much less infrastructural space and are more efficient at producing actual energy
You made a awesome video for 2019 keep up the good work hard work
All the below made of Oil.
Petrol for cars
Diesel for cars, lorries and ships
Aviation fuel for planes
Credit cards
Plastic bags
Hair brushes
Anti-freeze
Motorcycle Helmets
Carpets
Telephones
Brake fluid
Boats
Glue
Toilet Seats
Shampoo
Household paint
Detergent
Bowls
Fertiliser
Explosives
Car tyres
Artificial turf
Football boots
Lipstick
Weed killer
Parachutes
Umbrellas
Food wrappers
Shower curtains
Waterproof coats
Artifical limbs
Roads
Bubble wrap
Drinks bottles
Toothbrushes
Life jackets
Fishing line
Tennis rackets
Roller blades
Eye glasses
Lunch boxes
Flower pots
Toys
Car seats
Insulation
Nail polish
Hair spray
Medicines
Insect repellant
Golf balls
And that's just for starters.
1st so? 2nd they dont have to be made for petroleum 3rd take ur petroleum based meds the keep u from typing useless lists 4th Type American like the rest of the world, English is so two centuries ago, soon we all will need to know Mandarin.
Time to make them from something else.
Time to find market solutions, And stop believing in fair dust...
And still we are burning 90% of this valuable resource.
It won't environmentalists nor will it be politicians who will kill fossil fuel. It will be economics. $$$ will drive renewables. Independence and security is another factor.
The problem isn't with the environmental impact of oil extraction but the environmental impact caused by uses of oil mainly transportation.
One of the few coal plants in Canada has carbon capture.
I'm glad some Oil Companys see that Renewable Energy is the Future Market
They,ve come kicking and screaming, i will never by one type of renewable power source from anyone of these multi national criminals.
What took them so long? They have the resources and the capital why wouldn't they try to keep mother earth clean. We soil the earth with every pump we've got pulling the oil out of the ground. What were they thinking? Money. Money can be made in windmills, solar, tides. Change course now and let's clean up our lands.
@@breeze787 Just imagen being a CEO: You are in charge of a company for a decade(if that) and you get paid(to a large degree) according to the profits the comapny makes. Going renewable is something your company has no experience with and these assets cost a lot. Wind and sunlight is free, but wind trubines and solarpanels are not. So you need to use your profits to build new rewable energy sources(so you do get paid less) and you destroy your old buisness(so you get paid less).
Thats why most companies in any sector do not survive game changing technologies.
Meanwhile in china: *Smoke* *Smoke* *Smog* *Smog* *Smoke* *Smoke*
You left out India?
@@77.88. They just pollute their rivers and stuffs and not really producing greenhouse gases like China did. China produce more than half of greenhouse gases in the world.
@@splintcell2692 I lived in mainland China for two years and caught a bad lung infection that would have killed me if I did not leave, the poor Chinese population have to live with this pollution every day while the Beijing politicians work in a triple filtered environment and I suspect their home are also protected the same.
I love these old videos. They are so positive. Many inaccuracies, but it paints a picture that you would love to become your reality.
Should be a disclaimer - Statoil promoted content. This is just an advertisement for an oil company.
@4:47 "wind/solar are cleaner but depend on subsidies"
Oil / Gas / coal depend on subsidies as well, thus the miriad of political lobbyists.
Thank you Economist for your amazing films, they're very informative and interesting to watch.
they are totally wrong.. renewables does not depend on subsidies.. they are the cheapest form of energy today.
www.lazard.com/media/438038/levelized-cost-of-energy-v100.pdf
But still, when I started reading them I expected they would be more anti-green biased. I am positively surprised. It could have been worse.
You've got to be kidding !
Y attack this post when they talks mostly about renewable?. And if subsidies r not need y still have them? Does this futurism.com/sunny-days-solar-is-officially-becoming-the-cheapest-form-of-new-electricity/
include the cost of the batteries when renewable r functioning or does it depend on fossil fuels to supply the electrify? NVM I saw 50 yrs ago "solar becoming-the-cheapest" I guess they will be right someday too? Stop living in a dream world ppl. Bottom line when renewables r truly cheaper there will be no debate. It will just happen.
Yes they are
The implication that fossil fuel companies haven't relied on subsidies since we first started buring oil in the first place is absurd.
This gave me an idea that for it to be successful and truly be independent from fossil fuels, it will require the need for high voltage power cables linking villages or cities so that a change to poor weather in one area will be powered by another area of power generation. As mentioned in the video, everyone can be a power producer. An enterprising individual might produce this power for money while another home not even require the equipment and just buy the energy. I can see this network to be similar to the Internet where there will be large data centers and long network cables. In clean energy, the large data centers will be energy storage companies who will buy and sell energy while the network cables are high voltage lines linking huge cities to another. This is very lucrative for the common people considering the revenues of oil and electricity producing companies.
This presentation does not disclose the heavy financial start-up subsidies used to make these projects possible. Bio-gas ignores the CO2 requirement by tree-hugging Sierra Club manifests and other loony left ecology gods. The 'Peak Oil' you read about 30 years ago is currently being reset as a completely new era in oil recovery, allowing for much greater production from existing wells and new recoveries in areas not approachable just a generation ago. API estimates put Peak Oil with current technology and flat-line consumption estimates to 2075. Nat gas much further out. Perhaps by then advancements in wind, solar, bio can become economically self-sustaining.
elli003 You are aware, I am sure, that the United Arab Emirates solar thermal electric power plant NOW generates electricity more cheaply than local natural gas. Google it! The break even point was passed in 2017!
Good. Wouldn't it be nice if the rest of the planet got as much sun as the UAE does ? Even with technological advances, alternative energy sources still struggle to become efficient in many population centers. Solar thermal plants in the UAE ..... fine, but not the best choice for Seattle or any other city above the 40th parallel.
The price of solar thermal, as well as, PV generated, power keeps dropping. There are calculations showing that the USAs electrical needs could be served by existing solar panels using about 0.6% of the USAs land surface, Wind power is now cheaper than fossil fuel plants in some areas, especially coastal, plains, and mountain areas. Graphene batteries are already being used in some smartphones and we are just scratching the surface on its uses. An MIT study estimates that more than 100,000 early deaths per year are caused by carbon fuel emissions, Some 53,000 are from vehicle emissions and 52,000 from power plants. As expected, California won first place with 21,000. As someone who attended UCLA and awoke every morning with a smog hangover, I wont lament the end of fossil fuel burning. p.s. few decades back, I founded a coal information institute here in Mexicos Cretaceous age Sabinas Coal Basin, the countrys largest. Sorry about the punctuation, My software can{t cope with constant switching between Spanish and English. !Saludos desde Mexico!
Brooks. Stop reading B.S. journals. Get IN the energy business, grow with it, learn something useful. These intellectual dilettantes from the University of Awe, while fully capable of solving the most complex mathematical equations, don't have a clue on how to give proper weight to the elements / components used in energy related equations. Their theoretical outcomes never prove to be true. Not even close. These are the same clowns that told us about 1970 peak oil. BTW - what translation software are you using ? curious ?
1. Pumped hydro- 500,000 locations using storm runoff water
2. Tidal power- pnnl.gov squim WA study Dec 2018
3. Solar panel- efficiency now 33% 2020 new panels
4. Tesla semi -seven cents kWh 60% cut per mile cost
5. Hydrogen fuel trains- Germany
6 Electric transit -
storing co2 what rubish useless method :P
but the oil in the ground is simply the storage of co2
Farts, prove storing gas will always escape 1 day :)
Why is it with subtitles, which cannot be removed?
100 % Great idea! Where the comunity help each other to world peace and working together. I myself, living in SA; plan to go solar and wind for my household.
Statoil: Cleanly producing a dirty product.
You still need oil so better buy oil from friendly Norway than from filthy salafist funding Saudis
i love their jab there. '... [renewables] still rely on subsidies' and forgot to mention that so do fossil fuels
Energy problems:
1. Research on minimizing emissions and maximizing efficiency of fossil fuels
2. Research on safer nuclear
3. Research on converting nuclear waste to harmless isotopes
4. Research on hydrogen electrolysis
5. Research on making hydrogen act as a battery
6. Research on battery
7. Research on lowering the cost of and making solar and wind more affordable.
8. Research on other energy: biofuels, geothermal power, tidal and wave power.
9. Research on fusion.
I am looking for a job if anyone is hiring in those areas. Just graduated college and need job to pay my "student loan debt".
I'm totally for green energy, but those ugly wind turbines totally ruin beautiful natural landscapes. Get rid of them and push for solar instead.
because coal power stations are so much better to look r-right?
At least you can still go,and look at the landscape,try doing the same in a certain area of the ukraine,and japan,at the very worst with a wind turbine if the idea of it as a renewable does't work,its take it down,pull the cable up,take a chunk of concrete out,and back fill it with topsoil,and return the land to its former use
Hopefully, this will assist in the prevention of excessive climate change to some degree, but I still believe that it makes more sense to avoid fossil fuels generally; even if you pump some of the carbon underground, surely, you can't do it with all of it and they're still not renewable.
There is no such thing as renewable oil or gas. Improving the extraction methods does not solve the carbon emissions problem.
Wind and Solar are already cheaper, even considering changing weather. The economy is built around fossil fuels, that is the only reason we still use them, hopefully this will change. The oil industry needs to disappear.
I'm about to write a thesis in optimizing the wind and solar energy by predicting the weather so that it can be optimized and the energy can be used without lots of excessive wasted output. What I've learned is that by simply inventing a battery with much more efficient storage and lifetime, we can actually just rely on these two power plants, without needing any other backup. The price of this clean energy has gone down dramatically until now, only 30% more expensive than fossil fuels. If only the government subsidize this energy and put more carbon tax on fossil fuels...
011azr yes, that too is keeping oil alive, subsidies, which I find obscene, the state (in my country too) is basically paying more for dirtier fuel out of tax money.
Synerrox เ yes, and solar will get cheaper because it's a technology not a fuel you dig from the ground.
The only challenge is upgrading the grid, so far homes have only consumed a small amount of energy, solar panels output a lot of energy at peak production moments of the day, if the grid was more powerful around homes that energy could be used elsewhere, so even without batteries a lot can be done.
If something from Economic class taught me was Externalities.
Yet we want less CO2 in our atmosphere.
How come Oil and gas companies have subsidies, yet something that is good, doesn't have them.
It's either adapt or go home.
Guys we must send these people home, After all we are warned about bad influence.
Call your Senators to support renewable energy, and to subsidies them, while also taxing oil, and gas.
Wind and solar are cheaper, excluding grid stabilisation costs, and summer-winter load balancing issues. (Summer generates the renewable power, winter uses the power)
Thanks for the information! I've been looking for companies to invest in! I really wish that when you bought stock you could answer a survey of WHY you bought that stock so companies could understand why you want to support them. For instance, I want to invest in Shell and Eon, but not for their fossil fuels, but for their transition into clean energy. I want them to KNOW that.
If millions of investors could directly state why they are investing that would be useful!
Also, if you could not actually buy the stock yet but signal to them that you want to buy the stock using the same feedback system, they would be encouraged more to do the right thing. If a company can see that they are sitting on potentially millions of dollars of investment, if only they make the change we want, they'd much more quickly make those changes.
The problem with the traditional stock market and traditional capitalism is that it has the power to be an amazing system for human happiness BUT lacks the true moral democratic systems it needs. Just giving money to them isn't enough because we are throwing away SO MUCH INFORMATION. We have plenty of moral motivation in the masses. But lack that feedback into the system. Currently, there is about a 30 year lag time for moral progress to move into the corporate strategies because we essentially have to wait for our children to grow up and take over.
That's too slow.
Let's change that.
What will happen to the pension funds, which own oil & gas shares in their portfolio?
Nuclear Fusion (not Fission) is the end game IMO. Clean and inherently safe, they are getting closer to making it a real option.
BuellersBack Fusion proved not economical start reading books again rather relying on out dated information
Source? Nothing will be cheap in the beginning. Give it 10 years after it’s initial release and it will be reasonable with no waste.
End game is death. Death will be here for all of us way before fusion is a viable energy producer.
If it doesn't work now it isn't helpful now, and if it did work unless it was Democratically owned it would be just another concentration of wealth to make poverty and violence.
Saleh Asim for a while oil was considered useless for a while
Good! Let's eliminate fossil fuels completely and make a move to clean energy for our planet.
Growing pains but the end result is necessary.
I personally believe we need to use all sources of energy moderately. Any one form used to it's maximum is trouble down the pike. For instance, if a village had a river running through it, and it mandated that all the villages power be from hydro, the first person in line would harvest the most energy and it would decrease as you went downstream, until eventually you were left with standing water. That would mess up so much more than just the flow of water! And let's look at another aspect. If people went back to sleeping when it was dark, and working/ being productive during the day- we could reduce the demands for energy exponentially! I think modern day "civilization" would have none of that though. There are many battles in each fight. Hard to measure, and do the best by all involved. Every negative has positives, and every positive has its drawbacks... that's real life.
I'm curious. How many here have researched in depth and understand the process of making and disposing of batteries? If you were to ignore the ecological effects, and simply require all mining and production of such products to be done using renewable energy, the whole industry would flop.
The way that EON guy said they’d like to manage all of the electricity from these new resources made me a little angry. Only now are they interested in other ways of production since their shares have slumped 75% in the last 8 years. Rats do the same on a sinking ship
First, renewable energy accounts for a very small fraction of all energy produced, and that's not likely to change anytime soon.
Second, power production shifting to nuclear will significantly reduce coal and oil consumption. Nuclear, non-Uranium, power production is pioneering technology that has proven to be safe, reliable, sustainable, and almost zero waste. The journalist class should research thorium power production. Additionally, nuclear fusion is not far off in our future. Some scientists are very close to sustaining and harnessing fusion reactors.
Third, oil and gas companies should be good environmental stewards. The obsession with pseudoscience detracts from concerns environmental scientists express regarding industrial activities.
Fourth, CO2 is an inert gas. The greenhouse hypothesis, it is untested, is anti-science as far as chemists are concerned. Yes, climate change occurs and 97% of climate scientists agree. However, there is no general consensus as to the cause, and many different theories are gaining traction in the scientific community. Industrial activity leading to a wasteland future is nothing more than propaganda from a monolithic media class.
Really? Experts predict that by 2050, solar energy sources will produce 25% of world's energy while the wind energy sources will produce 35% of them. Combined, these clean renewable energy sources will provide 60% of world energy consumption by 2050. The development of electricity is much faster than internal combustion, you'll be surprised how much the cost is reduced during the last 10 years. The only problem is small battery and other sources for backup.
Fortunately economics and not 'silly science' and dogma will ultimately win. If wind and solar can really be used to produce all energy at an acceptable cost they will win.
Today that point has not been clearly made.
It will take time to see if these newer technologies can walk on their own. If they continue to require government backing they will remain niche.
xkguy economics has a terrible record as a predictive science. It is only ever wise after the event and has no plausible theory of how innovations originate except some nonesense about 'animal spirits' and 'uncaused causes'. Try Grid Group Cultural Theory as an alternative change theory with no equilibrium points.
WHAT A LIE, WHY DOES TRUMP NEED A 30% TAX ON SOLAR IF ECONOMICS IS THE PROBLEM.
Such Bullshit, and who pays the environmental damage, the wars, fights the terrorism that the energy imperialism creates? not the damn oil companies that is for sure!
xkguy ,these replies to you are so funny. Does anybody actually understand how the world works. Seems as though you do. I am not sure how anyone can disagree with your comment.
Well made doc. 90% of people are in oblivion about near future, specially people who earn livelihood from related industries.
Why aren't the Germans building battery factories? Daimler refused to invest in batteries in 2016 and 2017, their recent announcement is almost like the VW diesel clean motor.
Q:
Growing overpopulation is an important cause
for climatechanges, so family planning
is a good idea?
A:
There is no such thing as "overpopulation" we have plenty space, food, water, and energy on earth for way more than 7 billion people, the problem is that a few people have most of everything and most people are left with hardly anything, a world population of seven billion, as a loose crowd taking up ten square feet per person, would occupy a space a little larger than Delaware's land area.
+roldiny that may be true but the damage were doing to this planet in proportion to how our planet recovers is so wide that no amount of solar or wind or lithium ion batteries could ever save us from slowly destroying this planet.
tell that to Trump who wants to shut down Family Planning entirely
Overpopulation is no longer projected by specialists. Population growth slowed down significantly.
k. g more like peaked
You cannot decarbonize without significant assistance from nuclear. Even the IPCC admits this.
If a single house or a small village can be carbon-free, it should be possible in big scale too. The bigger the network, the easier to balance out local weather effects.
This is a great video, thanks for posting!
I wonder if the oil companies have or could look to making or using construction materials with their products as the price drops e.g. tar based, or used to get thevcarbon to make graphene.
Perhaps, the biggest risk presented by the new renewable energy resources is the fall of the petro-dollar. Oil is traded in dollars which means that virtually all oil producing countries need dollars in order to trade their oil. As the oil industry is displaced by renewable energy sources, the reliance on oil - and, the petro-dollar - will be reduced. That is going to cause all those dollars held around the world to start coming back to the US - spurring rampant inflation and, perhaps, a cataclysmic collapse of the US economy.
This was predictable by the greedy criminals who decided that our money didn't really need to be backed by anything tangible. But, they did it, anyway. And, we will all pay dearly for it.
World trade is based on the dollar not just oil including most internationally traded renewable energy tech . But it will change over time with r rise of China, If ur scared buy gold or bitcoin. Last recession was a factor of weakening of the Glass-Steagall Act, we keep forgetting excess speculation leaves a bitch of hangover after the bubble bursts. Even if Gold standard keep govs from just printing money its is only a small percent of the actually currency. So keep pretend Gold will save us when Gold is fixed asset that can even make the problem worse. The Gold standard died long time ago for good reasons that cant fully be explained here. But I love the conspiracy and "chicken little" theories :)
Dollars are recognized and accepted around the world because they are needed to trade oil - period. There is no other reason why the world needs to depend on dollars for trade.
U mean oil is traded in dollars since dollars r accepted around the world for international trade. Sorry "u got the cart before the horse".
The criteria for ppl accepting US dollars has little to nothing to do with if their country's trades in oil based on US dollars or not.
Countries with very weak currency tend to accept US dollars since they more stable substitute for the local currency. Just do some traveling and find out 1st hand, in some places they only would accept dollars from me but wanted to give local currency as change.
While countries with stronger more stable currencies dont have the need and tend not to accept US dollars as much or at all.
Since WWII the USA dollar has been an accepted standard for trade, its not written in stone and is changing mostly due to the rise of China.
Wrong. Oil is traded in dollars - but, everything else can be traded in other currencies. But, because oil is traded in dollars, that means that they are available throughout the world. And, because it is a relatively stable currency - for now - it is often accepted for trade of other goods. But, if oil stopped being traded in dollars. the dollar's stability would start to fail - and, people would no longer want to use it as a currency. So, no, I did not get the "cart before the horse."
Read the following statement as many times as it takes to sink in:
"The US Dollar is backed by nothing."
The same can be said of every other fiat currency in the world, too. And, to put a fine point on how precarious the value of a dollar is, it is worth less than 5% of what it was worth a hundred years ago. It's already collapsing, and it will accelerate its collapse as the world moves away from fossil fuels.
Oil already is traded without using US dollars on a bilateral basis. The change is happening slowly already so there is no rational y change would take place in manor to precipitate the dollar's instability. What causes a crises is if something is unforeseen.
Plus China owns trillion in US currency based debt so its in everyone's best interest to keep the US dollar relatively stable. And I have heard predictions like this my whole life, including in the 80s when some ppl predicted Japan and the Yen was suppose to become the dominate economy and currency in the world.
But if u really think ur right just short the US dollar in the ForEx market and get rich. I just wouldn't bet on it.
And this y betting on candidate is better predictor of an election than a poll. Since it only counts what ppl say when they r willing to put money on the line,
oil and coal company owners should be jailed for the thousands of people dying every day due to poor air quality. They knew what would happen and they didn't care, so why should we care if they get the death penalty? Coal and Oil for the Electric Chair.
The US Government has an obligation to make sure the oil companies have an obligation to keep their refineries up to date and not let them get run down before a major disaster occurs.
That floating windmill looks awesome.
never trust an oil company, especially when they put a bitch manager in a video telling you that they are doing you interests... ahahah
Nereus wtf. Why are u calling her a b? U POS.
well its a publicly owned company? that hard to believe?
i am not an oil guy but the guy said get rid of stinky oil plants have you ever lived near a farm stinky farms too
Yes I have and I will take stinky farm over a stinky oil refinery since the farm stinks usually dont cause cancer. But that just me go find stinky oil refinery and enjoy....
Yes and they do cause most cancer, though from eating animals not inhaling.
www.provegan.info
U must think they r talking about animal fat based oil I guess? Thx, Vegan troll...
the renewable energy sector facing a disruption a cloudy day with no wind
Storage and lack of sunlight at night shouldn't be an issue for solar panels, I think.
I remember having met a really fine gentleman working for the government in India, he showed me that the amount of electricity produced from different sources keeps changing, so to so say that the government can increase or decrease the amount of energy produced from coal in sync with an increase or decrease in the amount of energy produced from hydroelectricity. he showed me an app which was from the government and the numbers kept changing in like every millisecond it was really fast like really really fast. The government in India actually has all the data at one place and can make changes at any point of time. If we really had solar panels at all places then unpredictable weather wouldn't be an issue we can really fill up any deficiency caused due to bad weather by other sources of energy, we are not looking forward to completely getting rid of non renewable sources of energy, anyway, any step in the right direction is great. So I don't think that bad weather and lack of sunlight at night is that big an issue it is more of a non issue the real problem I suppose is the fact that Solar energy is still more expensive than other sources of energy, which is something that will change in the years to come with newer technologies, hopefully.
I just can't understand why Nikola Tesla's ideas are not pursued. I hardly think there was another modern human being who understands energy better than Tesla who said we don't need any of what was mentioned in this film.
Why don't we research the reactivation of the pyramids if we are really serious about solving the world's energy problems. Actually we don't have an energy problem. The problem we have are the energy vampires who want to make sure that their exploration of mankind is secured by whatever technology is allowed. Free energy will be suppressed for as long as possible.
Too dangerous.. You actually think people WANT to give up control of the energy industry, and it's money? Tesla's ideas would destroy every control apparatus the world has erected, and give freedom back to the people. It's not about energy, it's about money and control, in whatever manner possible. They guide the technology improvements in the slowest manner to be able to shift out of the old into the new while retaining the tightest control and profit as possible, in the shifting sands of human progress.
This is why you don't see these things pursued- that and the effective stigma they've been able to attach to them for the same purpose.
Trevor H
You are perfectly right on that. The question is, how long will the manage to have a grip on us?
Orlando Ellis
For as long as we continue to let them. On my watch however, not so very long. The time for action was yesterday. Today will suffice. We must start moving. Tomorrow is too late.
Energy is only one part of the problem, the whole thought system needs a revolution. The world needs examples of how to live freely, like never before. The pins have already been pushed, there's no turning back, revolution, or destruction are our only options.
Trevor H
You are a man after my own heart. It felt like I was reading my own words.
Like Bob Marley said:"slave driver, the table is turned". We gave them the power that they have and now it's time to take it back.
Exactly. We are not alone, neither few in number. But we must find ourselves, then we can show the world the way. Do not fall for fear, live freely, and open. Teach the world what it means to live, and love.
Ask the Rothschilds
lol there is always 1 in conspiracy nut...
It’s over Commander!
- Han Solo
Those are the future windmills!!
How beautiful they are!!
Cutting CO2! Bad news for plants. They really love it.
hahaha, maybe a little more hot air out of the likes of you and the flora will thrive!
You’re an idiot. They have plenty of CO2, and we are just creating extra that the plants don’t even have time to get through. So it slips out and warms the climate... and you saying this is bad for plants is just plain dumb.
sarcasm?
AKzebraMiner It's called sarcasm...
Trygve Evensen Then why was it not funny?
Good luck forging and casting high grade steels and other metal-works with wind electric power. LOL
"high grade steels" are not stainless.. Further, the energy conversion ratio from wind to electricity to heat is phenomenally inefficient. To convert all of the worlds metal foundries and other industries that require heat energy, to run off only Wind energy, instead of coal and other fossil fuels, would put such a strain on the electric grid, there wouldn't be hardly any energy left for anything else.
No upper limit? Yeah, there is, it is, how much space is on the planet for your installations, and how much material you can harvest for their construction. Speaking of construction, I'd like to see your electric bulldozers needed to form the land, and oversize capacity electric trucks needed to transport the materials from production to placement.
Ah yes, batteries, those wonderful things that require caustic and other hazardous materials for their construction...
You know... Fossil fuels are batteries too. Very energy dense batteries you need only mine out of the ground.
Ooh, Technical Jargon. I was just refuting that there was no limit. There is a limit for as long as the surface area of earth, and it's Volume, remain finite in number. Human ingenuity is not limited by finiteness so naturally there is no limit there. Feel free to swath the earth in solar panels and electric windmills for solar and wind energy, but it is an exercise in Gross Inefficiency.
Put simply, Wind Energy, is a product of Solar energy itself, which is a product of thermal electric energy out in space, radiating onto Earth.
Why go through the process of converting mechanical and thermal energies into electric, at gross inefficiencies, when you can just apply them directly to the same form of energy? Thermal for Thermal, and Mechanical for Mechanical. If we need electrical energy for digital-electric things, we should tap directly in to the font and well-source of electrical energy on earth to begin with- atmospheric electro-static, like Nikola Tesla did, about 100 years ago. No need at all for fossil fuels, solar panels, and electric grids.
But that's not to say we can't use what we want if we want to use them. Just not out of necessity.
I don't think you see what I'm saying.
If you haven't heard about Fresnel Lenses, now would be a good time for you to do a search here on youtube and find out their capabilities.
If you haven't heard about External Combustion Engines, and what can be done with them through solar-thermal, now would be a good time to do a search here on youtube and find out their capabilities.
If you haven't heard about the Electric Universe, and how it applies to our sun, now would be a great time for you to do your research here on youtube, and find out how the universe Really works.
Fossil Fuels are batteries, extremely energy dense batteries. No, the efficiency is not there compared to direct from the sun, but per volume and poundage, they are far and away more efficient than solar panels or windmills. Solar panels and windmills cannot produce continuous energy, they are pass through vehicles, to convert energy into a battery form. The batteries requires for them are far and way the most expensive part of the whole system. Not counting subsidies on either side, I can't say which is truly cheaper, but fossil fuels are definitely more efficient for the energy you get.
I'm not saying we can't use any or all of these sources, simply that it should be a choice, not a requirement. if it were me, I'd use mechanical windmill stations, solar thermal, external combustion, and Tesla coil technology for only their strong points.
Trevor H dumbass
E ON's CEO had 27 years to do something positive and evolutionary. No they did not. So people with common sense started doing their own thing and left them out. That is why your share price is like that.
Oil & gas enabled us to produce Machines which triggered production and to make R&D projects like prospective solar energy. The world has been grateful to the fossil energy and up to now we are dependent on oil and gas.
Oil and gas companies have huge revenue from the oil and gas wells. High costs to drill but low costs to exploit. If oil and gas companies invested their revenues into solar and wind. They could maintain their revenues and help save the environment. Sadly it will take stock holders to demand this change.
Great video, a true testament to innovation and commitment by all.
self charging electric cars is the true answer
this aged well