When I graduated with Chemical Engineering degree from the Birmingham University in the UK in the 1980, I chose to work with ESSO Malaysia. This was because ESSO Malaysia (now EXXON Mobil) was one of the two biggest companies in Malaysia. They paid high salaries for their engineers. The other company was SHELL Malaysia, also an oil company. Today, these two companies continue to pay good salaries but they are considered less attractive as employers under the current environment that oil companies contribute to global warming.
A new report by energy consultancy, Wood Mackenzie, forecasts that coal, oil and gas will still contribute about 85 per cent of primary energy supply by 2040, compared with 90 per cent today. The report noted that 1 terawatt of installed solar and wind capacity makes up about around 8 per cent of total power generation as of 2019.
This equates to just a fraction of total energy consumption. “The world risks relying on fossil fuels for decades to come,” the report said. It also forecasts carbon emissions will continue to rise, with growth only slowing in the 2030s. This will put the world far off course in meeting the Paris climate goals, to limit global warming to well below 2C, despite growing political momentum to prevent climate change. Energy demand, led by growing populations in emerging economies of Africa and Asia, will increase by at least 25 per cent by 2040. Yet carbon emissions would need to halve over the same period to comply with the Paris Accord, posing a huge challenge for energy systems. “This is a wake-up call for governments and the energy industry,“ said David Brown, one of the authors of the report.
While there is much focus on creating renewable electricity, Mr Brown said greater attention needs to be paid to clean up sectors like aviation and shipping. Governments also need to take the lead in developing low-carbon technologies, rather than the private sector, given the scale of what needs to be achieved.
“If the world wants to de-carbonize, they need to take a leap, and come out with targeted policies,” he said.
The costs of renewable power is falling rapidly and it is the fastest growing source of energy supply globally But reaching a fuel mix whereby 50 per cent or more of energy demand is derived from solar and wind would require huge changes in infrastructure—from power storage systems to modernized grids.
The issue is not generation of electricity. The move towards zero carbon in the utility industry is advancing well and will continue so long as solar and wind plus storage are significantly cheaper than making electricity by burning coal, oil or gas. It is other industries like heating and cooling buildings, shipping, air travels, cement production, and transportation that are not moving fast enough to embrace low or zero carbon technology.
One factor that could accelerate the de-carbonization of these sectors is moving some of the money currently targeted for direct fossil fuel subsidies—almost US$400 billion globally— to subsidies for renewable energies and other low carbon technologies.
Other effective strategy would be making those who emit carbon dioxide to the atmosphere pay a fee for the harm they cause. Why should industries be allowed to escape paying for proper disposal of their waste products? Is it because of all the employment opportunities they offer?
That makes sense on the surface of things but is totally false when subjected to deeper analysis. First, industries won’t cease to exist if they are required to pay for the harm they do. Second, clean technologies promise more jobs than will be lost if a carbon fee became widespread. Third, there would be no industries if most human and the other species on the Earth are wiped out by rising temperatures.
So let’s stop feeling bad about polluters.
It’s time to change our thinking and stop apologizing for wanting to keep the global temperatures from skyrocketing. We have a right to demand a clean environment, one that allows humans and all species to thrive.
What could be objectionable about that?
And, finally, don’t let little Greta Thunberg, the 16-year Swedish schoolgirl, fights climate change alone!