Energy

• [New] If Vietnam is serious in its pledge to reduce carbon emissions to eight percent by 2030, it needs to rethink its coal plans for the future.
• [New] As more low-cost variable renewable energy is added to the grid-projected to supply half of the world's electricity by 2050-nuclear energy is recognised as a potential option to produce heat and electricity as needed, while also reducing atmospheric emissions.
• [New] China has since announced more specific targets, including a 65% reduction in carbon dioxide emissions by 2030 compared to 2005 levels, and to increase the share of renewables in its energy mix to 25%.
• [New] The UAE has led the region in climate change policy since the Paris deal, initially committing to generate 24% of its energy from clean sources by 2021 and later increasing that target to 50% by 2050.
• [New] Australia will meet and beat its declared 2030 target of reducing greenhouse gas emissions by 26% to 28% below 2005 levels.
• [New] After 2035, sales of gas-powered vehicles would be banned in California, a state where more than 50% of greenhouse emissions are generated by transportation.
• [New] Forecasts by the International Energy Agency and OPEC do not expect 2021 oil demand returning to pre-downturn levels.
• [New] Ensign Energy Services expects to be about 15% busier in Canada in 2021 as petroleum producers increase drilling due to improved oil and natural gas prices.
• [New] NASA's renewed efforts to return humans to the moon by 2024 has led to advances in new space technologies to improve processes, and reduce costs and development time.
• [New] British retail group ASDA will commission more than 300 new BioNGV (Natural Gas for Vehicles) trucks in 2021 to reduce the environmental footprint of its transport activities.
• [New] In the IEA's annual World Energy Outlook 2020, which it released in late October to provide an outlook through 2040, coal's share in energy demand could dip below 20% for the first time in modern energy history while renewables are predicted to meet 90% of strong growth in global electricity demand.
• [New] The International Energy Agency projects consumption will increase by almost 6 million b/d in 2021 but will average just 96.9 million b/d - still well below the pre-pandemic record of 100 million in 2019.
• [New] Madison-based Alliant Energy announced in May that it intends to add 1 gigawatt of solar power in Wisconsin by the end of 2023, and also that it would phase out coal from its electricity generation by 2040 and reach net zero by 2050.
• [New] The long-term outlook for natural gas is not good in California, which wants to eliminate most carbon emissions by 2045.
• [New] Hyundai Motor Group will set up 20 high-speed charging stations in Korea by 2021 and will further expand its charging network in cooperation with energy companies.
• [New] Australia's clean energy move, the UK's internal combustion engine ban shift from 2040 to 2030, and release of 8,000 Volkswagen ID4 electric 4 WD vehicle in the U.S., has additionally surged lithium's demand in the last quarter.
• [New] Energy companies such as Northern Gas Networks and Cadent - which own local gas infrastructure in Britain - have been researching whether gas could be replaced with hydrogen to help the UK meet its legally binding 2050 net zero emissions target.
• [New] If countries around the world increase their investment in wind, solar and battery in the next few years, the price of renewable energy will continue to decline.
• [New] Germany plans to have clean energy sources by 2038 with the strategy of replacing nuclear energy, coal and oil, which have the biggest contribution for energy production today.
• [New] If the nations of the world ramp up their investments in wind, solar and batteries in the next few years, prices are likely to fall even further to a point where they are so cheap it will begin to make commercial sense to shut down and replace existing coal and gas power stations.
• We are certain that the demand for power in Germany can be completely covered with renewable energies by 2050.

Last updated: 10 January 2021