I am sharing good news on this podcast: Natural gas is done in 10 years. Certainly in Europe. Give it another 5 years on top and it will also be done in Asia and in the US too. It’s going the same way as coal. Why? In short, because the information fog is lifting after decades of obfuscation: We now know it’s about as dirty as coal. Whoever named it “Natural Gas” instead of “Highly Explosive Climate Change Accelerating Fossil Fuel Gas” deserves a branding award.
The plastic industry says it’s a “hero” of the coronavirus pandemic. What is driving this propaganda? Single-use plastic is a big chunk of the future demand for oil forecast by OPEC or by the International Energy Agency and their other friends trying to cook the books. So if you take out single-use plastic, future demand for oil and gas will decline immediately and so will the projected revenues of that entire industry. That, in turn, has all sorts of consequences for the cost of capital of oil and gas companies, which ultimately means that they will be able to do no more new oil and gas exploration. Furthermore, they would have to close down, gradually, what they’re doing now. That’s why the plastic industry is now selling itself as a “hero” of the fight against the coronavirus – and nothing could be further from the truth.
Recently, an open letter from dozens of investors, business leaders, researchers and climate policy advocates accused the International Energy Agency, a Paris-based intergovernmental organization mistakenly labelled as “authoritative”, of marginalizing key climate goals in its research. They were being too polite: The IEA is a very dangerous organization and should simply be closed, because it’s a fossil fuel relic incapable of reform. I’m afraid this podcast is entirely dedicated to explaining why.