Prospector News Publisher Michael Fox is joined by contributor Ted Butler as we discuss Ted’s article in the March/April edition on the resilience of “Old Energy.” Old energy (Oil, Natural Gas and Coal) is far from becoming extinct and in fact in 2023 the use of all three of these energy sources grew. Ted points out that as economies grow the efficiencies increase so that less energy is need per unit of GDP, but the actual amount of energy needed grows. He has noted that the share of this has remained fairly static over the past few years with Old Energy accounting for approximately 80% of energy consumption.
Does this Mean that the “Green Economy Dream is Over?” Not at all says Ted as efficiencies in Green Energy present themselves (particularly in Solar and in Nuclear) They are poised to take a larger share of the overall consumption. However, he cautions the Green Energy Transition will be a decades long process not an overnight one that Government and the Environmental movements would have us believe.
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