Electricity is “the new oil” says IEA

Posted: November 14, 2017 by oldbrew in Energy, ideology, opinion
Tags: , ,

Credit: Entek Corp.

This overlooks the fact that ‘the majority of petroleum is converted to petroleum products, which includes several classes of fuels’. It also includes ‘conventional fertilizers [which] are commonly derived from petroleum. In fact, a single 40-pound bag contains the equivalent of 2.5 gallons of gasoline.’ Electricity is only a manufactured power source, as far as national networks are concerned.

Electricity is “the new oil” and the effect of increasing global electrification is having a “very deep rippling effect for the power sector”.

That was one of the highlights this morning at the launch of the International Energy Agency’s annual World Energy Outlook, reports PEI.

Laura Cozzi, head of the IEA’s Energy Demand Outlook Division, said: “We are seeing growing electrification happening throughout the energy sector – electricity going into sectors that were confined to other fuels before: most notably, cars, but also heating and cooling.”

She said this “leads us to improved prospects for affordability, with cheaper energy sources available throughout the energy sector”.

And she stressed that “now, more than ever, there is a need to understand where the energy world is heading. Policymakers and industry alike need to understand how quickly this new transformation is going to go through every part of the energy scene.”

“It is like going to a play where you know the script very well, but suddenly the actors are changing their characters – and you are surprised by some the changes that you are seeing.”

Cozzi said that in the move towards a world that is increasingly electrified, China and India were key players. To try to put some perspective on the scale of electricity growth in Asia, Cozzi said that in the next five years “India is going to add one European Union to its electricity sector – China is adding one United States”.

Continued here.

  1. “India is going to add one European Union to its electricity sector – China is adding one United States”.

    And where does she think this electricity will come from – moonbeams?

  2. ivan says:

    Paul, I assume they have taken into account the number of coal fired power stations that both India and China are in the process of building.

    The other thing is they may be considering the EUs reliance on unreliables which lowers the amount of electricity available. It would have been the same for the US if Clinton had become president.

  3. oldbrew says:

    Well, Governor Moonbeam visited China recently…

    King Moonbeam Of The Nation Of California Inks Climate Deal With Chicoms

  4. Curious George says:

    Never underestimate IEA geniuses. Soon they will start drilling for electricity. It will gush out of the hole and skeptics will look absolutely stupid.

  5. oldbrew says:

    ‘There’s a dollar sign behind almost everything’…

    From 2006: Oil drillers have struck dinosaur off Norway, the Research Council of Norway announced this week.

    Found 1.4 miles (2.3 kilometers) beneath the North Sea, the fossil find marks the world’s deepest known dinosaur, researchers say.

    From 2012: Exxon Neftegas Ltd (ENL) has completed drilling the world’s deepest well in the Chayvo oil field on the Sakhalin shelf in the Russian Far East.

    The shaft of well Z-44 is 12,376 meters deep, which is the equivalent to 15 times the height of the world tallest skyscraper the Burj Khalifa in Dubai.


    That’s over five times the depth of the deepest dinosaur fossil.
    – – –
    More discussion here.
    – – –
    The Coal Oil Point seep field (COP) in the Santa Barbara Channel offshore from Goleta, California, is a marine petroleum seep area of about three square kilometres, within the Offshore South Ellwood Oil Field and stretching from the coastline southward more than three kilometers (1.9 mi). Major seeps are located in water depths from 20 to 80 meters. The seep field is among the largest and best studied areas of active marine seepage in the world. These perennial and continuous oil and gas seeps have been active on the northern edge of the Santa Barbara Channel for at least 500,000 years. The combined seeps in the field release about 40 tons of methane per day and about 19 tons of reactive organic gas (ethane, propane, butane and higher hydrocarbons); about twice the hydrocarbon air pollution released by all the cars and trucks in Santa Barbara County in 1990. [bold added]


  6. oldbrew says:

    She said this “leads us to improved prospects for affordability, with cheaper energy sources available throughout the energy sector”.

    Huh? Name one ‘green’ alternative that’s more ‘affordable’ than fuels.

  7. p.g.sharrow says:

    First the Ecoloons launched a campaign to make Nuclear Power too expensive by legal and political means…..Check.
    Then they Road Blocked Hydro…….Check.
    Oil became not acceptable…………Check
    Next their sights were on Coal………….Check.
    Natural Gas is next on their list…..
    Their real object is to enslave and pauperize Humanity. They really are crazy? or we the crazy ones for allowing them credibility?
    Poor enslaved people destroy their environment, so the Ecoloons are not really saving the environment.
    They are campaigning to wreck it…pg

  8. p.g.sharrow says:

    The great problem here is that Wind and Solar generators are allowed to “Grid Tie” and avoid the cost of supplying dependability. Conventional suppliers have to provide the dependability in the system. This allows the wind and solar generators the option to avoid 2/3s of the cost necessary to provide dependable electrical power supply in the system.For this they are paid a premium price for all the power they generate and the conventional suppliers are to take less and supply as needed. Small wonder SOMEONE has to pay for this inefficiency. Wind and solar may claim that they can compete with fueled systems but they are avoiding paying their share of the total capital cost necessary to provide Electrical power to the consumer….pg

  9. oldbrew says:

    RWE chief says coal exit would threaten Germany’s energy security


    Germany with no nuclear AND no coal wouldn’t work, basically.