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The ‘Energy Transition’ Is Not Visible in the Data

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The ‘Energy Transition’ Is Not Visible in the Data

Offshore Magazine June 1, 2022
Energy & EnvironmentOther

Pundits and politicians are eager to assert that there is an inevitable and accelerating “energy transition” away from hydrocarbons.

It’s true that there are record sales of electric cars and massive plans for solar and wind installations. But a rapid transition away from the existing energy infrastructures isn’t visible in the data.

During the past two decades, global governments have spent over $5 trillion to avoid using fossil fuels. But oil, natural gas, and coal still supply 84% of global energy, just two percentage points lower than 20 years ago. Meanwhile, burning wood supplies more global energy than solar power. Oil still fuels nearly 97% of global transportation. Crop-derived liquids supply most of the rest with batteries powering under 1%.

Continue reading the entire piece here at Offshore Magazine

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Mark P. Mills is a senior fellow at the Manhattan Institute; a partner in Cottonwood Venture Partners, an energy-tech venture fund.

Photo by senorcampesino/iStock

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