{"id":5156,"date":"2015-01-23T13:14:05","date_gmt":"2015-01-23T12:14:05","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=5156"},"modified":"2015-01-23T13:14:05","modified_gmt":"2015-01-23T12:14:05","slug":"one-thing-learnt-week-good-time-renewables","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=5156","title":{"rendered":"One thing we have learnt this week – good time for renewables"},"content":{"rendered":"

\"CAT<\/a>With the collapse in the oil price ongoing is this a good time for renewables?\u00a0 On the face of it it would seem not.\u00a0 However Lord Stern has been speaking at the annual richfest at Davos trying to persuade people that counter-intuitively it is a good time for renewables.<\/p>\n

His arguments are very simple, fossil fuel energy prices are very volatile.\u00a0 The price of renewables is falling and the only way they are going is downwards.\u00a0 Since he brought out his seminal report the cost of renewables have fallen 10x.\u00a0\u00a0 Oil and gas prices?\u00a0 With the recent falls around about 50-60%.\u00a0 Certainly nothing of the same magnitude as renewable costs have fallen.\u00a0 His argument is also you cannot tell where fossil fuels prices are going to go next.\u00a0 You can with renewables.<\/p>\n

Lord Stern went onto claim that green growth would be better growth with less traffic jams and respiratory diseases.\u00a0 He reckons pollution in China knocks an astonishing 10-11% off its GDP.\u00a0\u00a0 Given the images of Beijing we see on the TV this seems plausible.\u00a0 He didn’t mention peak oil or energy security but should have done since we have argued<\/a> on this blog the recent fall in oil prices does fundamentally alter the theory.\u00a0 In fact in some ways it confirms it. (One idea being that oil prices after global production of oil peaks are very volatile with huge swings up and down).<\/p>\n

Stern also thinks its a good time for renewables since we should think about carbon taxes or reducing fossil fuel subsidies when prices are low since higher costs of such moves will be offset by falling crude prices.\u00a0 Good luck to him on that one.\u00a0 All over the world governments are continuing to subsidise the fossil fuel industry the latest being fracking.\u00a0 Whether Stern had any impact at Davos only time will tell but he speaks the right language.<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

With the collapse in the oil price ongoing is this a good time for renewables?\u00a0 On the face of it it would seem not.\u00a0 However Lord Stern has been speaking at the annual richfest at Davos trying to persuade people … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[29,17,3],"tags":[269,79,74,48,34],"class_list":["post-5156","post","type-post","status-publish","format-standard","hentry","category-energy-costs","category-one-thing-we-have-learnt-this-week","category-peak-oil","tag-climate-change","tag-davos","tag-energy-costs-2","tag-fracking-2","tag-oil-prices"],"yoast_head":"\nOne thing we have learnt this week - good time for renewables - The oil lamp - shining God's light on peak oil<\/title>\n<meta name=\"description\" content=\"With the collapse in the oil price ongoing is this a good time for renewables?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theoillamp.co.uk\/?p=5156\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=5156\",\"url\":\"https:\/\/www.theoillamp.co.uk\/?p=5156\",\"name\":\"One thing we have learnt this week - 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