Shift to green energy 'could cost oil states $13 trillion' by 2040
11/02/2021 | news | business | 107
Some countries could lose 40% of government revenue as the world cuts back on fossil fuels, says report.
1
11/02/2021 10:41:43 25 0
bbc
No mention of Russia in the report?
I know they produce lots of gas but I thought they were heavily reliant on oil too.
Either way, the OPEC countries are going to come down to earth with a bang.
2
11/02/2021 10:47:23 11 2
bbc
The bill is going to be enormous for everyone, especially the poor.
3
11/02/2021 10:49:27 34 0
bbc
*Shrugs shoulders*

Don't think I'll be shedding any tears for the OPEC countries. They've made a fortune over the decades and they should have put money aside for the end of oil.
11
PS
11/02/2021 11:20:26 29 0
bbc
They haven't or more likely a few have & similar to Nigeria the rich disappear whilst the greater public still & will remain in poverty. Sad but it's been going on for decades. Those in charge don't seem to have a moral compass or compassion just how rich can I get.
37
11/02/2021 13:18:52 0 0
bbc
In Saudi - Employees of Aramco could get a plot of land free and a loan to build their house and didn't have to pay it back. Free health care for employees and their family. Wives couldn't attend doctors appointments without husbands and so they (husbands) were taxied back and forth from offshore on helicopters; as these appointments, were never done in the days off at home. Global Warming!
4
11/02/2021 10:55:52 13 0
bbc
It is a tough issue, however if the rich oil consuming nations do not assist the poor oil producing nations we can look forward to global instability and an increased risk of war. Some OPEC countries are at least attempting to diversify into tourism or other industries but some are also religious based at will not and there is another massive ticking time bomb.
10
PS
11/02/2021 11:18:55 6 1
bbc
Agreed. The far east has for too long pacified it's people with money. Once that goes there'll be huge instability and undoubtedly wars.
5
11/02/2021 11:05:23 3 3
bbc
Carbon Tracker predicts oil prices in 2040

Must be a clever bunch. Up to now no one can reliably predict prices will be just a year ahead

Alternatively this is just another green wash story
6
11/02/2021 11:07:36 7 0
bbc
The principle should be, the polluter pays

They made the money, now they can fork it out to clean up
9
PS
11/02/2021 11:17:43 6 0
bbc
I think paying for the conversion will land at the consumers feet. Similar to the energy companies now all of whom have made huge profits over the years & having nothing left to invest.
7
11/02/2021 11:08:00 21 1
bbc
Not a good time for a country to base its plans for independence on its oil reserves then.
8
PS
11/02/2021 11:16:36 4 6
bbc
I think you may mean the SNP who bang on about "their oil". Maybe they won't mention it anymore & ask to be refunded all of the revenue which the UK Government took from them over the years. I wouldn't be surprised at all.
7
11/02/2021 11:08:00 21 1
bbc
Not a good time for a country to base its plans for independence on its oil reserves then.
8
PS
11/02/2021 11:16:36 4 6
bbc
I think you may mean the SNP who bang on about "their oil". Maybe they won't mention it anymore & ask to be refunded all of the revenue which the UK Government took from them over the years. I wouldn't be surprised at all.
6
11/02/2021 11:07:36 7 0
bbc
The principle should be, the polluter pays

They made the money, now they can fork it out to clean up
9
PS
11/02/2021 11:17:43 6 0
bbc
I think paying for the conversion will land at the consumers feet. Similar to the energy companies now all of whom have made huge profits over the years & having nothing left to invest.
4
11/02/2021 10:55:52 13 0
bbc
It is a tough issue, however if the rich oil consuming nations do not assist the poor oil producing nations we can look forward to global instability and an increased risk of war. Some OPEC countries are at least attempting to diversify into tourism or other industries but some are also religious based at will not and there is another massive ticking time bomb.
10
PS
11/02/2021 11:18:55 6 1
bbc
Agreed. The far east has for too long pacified it's people with money. Once that goes there'll be huge instability and undoubtedly wars.
3
11/02/2021 10:49:27 34 0
bbc
*Shrugs shoulders*

Don't think I'll be shedding any tears for the OPEC countries. They've made a fortune over the decades and they should have put money aside for the end of oil.
11
PS
11/02/2021 11:20:26 29 0
bbc
They haven't or more likely a few have & similar to Nigeria the rich disappear whilst the greater public still & will remain in poverty. Sad but it's been going on for decades. Those in charge don't seem to have a moral compass or compassion just how rich can I get.
12
11/02/2021 11:30:23 3 1
bbc
I doubt it. We will be needing fossil derivatives for feedstock for decades to come.
14
11/02/2021 11:38:37 4 4
bbc
'Need' is relative. Will your children still feel you 'needed' to have this attitude when 10 million climate refugees from parts of the world rendered uninhabitable by burning fossil fuels are knocking on their doors and wanting their homes and food?
13
11/02/2021 11:35:43 4 1
bbc
Pie in the sky. Any poor country will continue with oil even if only to help their balance of payments and reduce imports of oil/electric cars/power generation. The idea to invest in education will increase the demand for oil, which is evidenced by the carbon footprint of rich vs poor. The think tank should think outside its tank.
12
11/02/2021 11:30:23 3 1
bbc
I doubt it. We will be needing fossil derivatives for feedstock for decades to come.
14
11/02/2021 11:38:37 4 4
bbc
'Need' is relative. Will your children still feel you 'needed' to have this attitude when 10 million climate refugees from parts of the world rendered uninhabitable by burning fossil fuels are knocking on their doors and wanting their homes and food?
15
11/02/2021 11:44:03 1 0
bbc
Without plastic, pharmaceuticals, food and homes reliant on the feedstock, they would not be refugees - they wouldn't exist.
14
11/02/2021 11:38:37 4 4
bbc
'Need' is relative. Will your children still feel you 'needed' to have this attitude when 10 million climate refugees from parts of the world rendered uninhabitable by burning fossil fuels are knocking on their doors and wanting their homes and food?
15
11/02/2021 11:44:03 1 0
bbc
Without plastic, pharmaceuticals, food and homes reliant on the feedstock, they would not be refugees - they wouldn't exist.
17
11/02/2021 11:47:04 1 1
bbc
Who is 'they'? Your children?
16
11/02/2021 11:44:58 4 1
bbc
This article and the early responses to it do show what a toxic brew human society is, as those who can take delight from profiting at the expense of others while wearing a mask of care and concern.

The feckless and stupid (and those too busy to lift their heads up and look ahead) run like lemmings wherever the influencers directly in front of them lead, and those who can see ahead build bunkers
15
11/02/2021 11:44:03 1 0
bbc
Without plastic, pharmaceuticals, food and homes reliant on the feedstock, they would not be refugees - they wouldn't exist.
17
11/02/2021 11:47:04 1 1
bbc
Who is 'they'? Your children?
28
11/02/2021 12:24:16 0 0
bbc
Everybody
18
11/02/2021 11:54:17 11 0
bbc
Those countries with the oil have had a good run up to now then.I suppose all good thongs must come to an end
19
11/02/2021 11:54:38 8 0
bbc
Remember 1973 and cost to the West not to mention some of these countries use their wealth to promote their own ideology
20
11/02/2021 11:57:44 5 15
bbc
The proxy and geological data shows that temperature changes always precede atmospheric CO2 level changes.
The idea that fossil fuels are a risk to life on the planet is pseudoscientific nonsense.
24
11/02/2021 12:11:45 11 5
bbc
Virtually everyone disagrees with you.

Why?

You're wrong.
25
QED
11/02/2021 12:13:17 5 2
bbc
I believe this is incorrect, if not please provide links to proper evidence.
21
11/02/2021 11:59:35 3 1
bbc
Maybe that goes a long way to explaining why Norway is busy getting as much hydrocarbons out of the North Sea as fast as possible.
22
P2
11/02/2021 11:59:42 10 0
bbc
But how will they pay for there gold plated Lamborghinis?

Something must be done!
36
11/02/2021 13:10:16 5 0
bbc
I will get a job behind the bar ( when they re open) or a paper round ....and will chip in.
23
11/02/2021 11:59:43 11 1
bbc
It's inevitable as fossil fuels will run out in any event : renewables in all forms are inevitably the way forward.
20
11/02/2021 11:57:44 5 15
bbc
The proxy and geological data shows that temperature changes always precede atmospheric CO2 level changes.
The idea that fossil fuels are a risk to life on the planet is pseudoscientific nonsense.
24
11/02/2021 12:11:45 11 5
bbc
Virtually everyone disagrees with you.

Why?

You're wrong.
32
11/02/2021 12:58:25 1 4
bbc
But you can't explain why. Just like a typical follower of a religion.
20
11/02/2021 11:57:44 5 15
bbc
The proxy and geological data shows that temperature changes always precede atmospheric CO2 level changes.
The idea that fossil fuels are a risk to life on the planet is pseudoscientific nonsense.
25
QED
11/02/2021 12:13:17 5 2
bbc
I believe this is incorrect, if not please provide links to proper evidence.
34
11/02/2021 13:05:18 1 6
bbc
It's easy to find many proxy data sets on the web. They show that atmospheric CO2 level changes follow longterm temperature changes by an average of 800 years. You were being deliberately obtuse.
26
11/02/2021 12:17:23 3 8
bbc
Then they are being stupid! Most of these oil states have vast deserts with lots of sun. Use that solar power to combine CO2 and water from the air into petrol (proven technology) and then sell that to the west as it will be a zero carbon affordable practical and no range problems environentally friendly alternative to the stupid battery car idea!
52
11/02/2021 17:04:02 0 0
bbc
This process does not procude Petrol. It produces Hydrogen which should be considered as an alternative option to electric for powering Vehicles. There are alread some that use Hydrogen in an ICE.
27
11/02/2021 12:19:27 16 4
bbc
For as long as the U.K. continues to outsource its manufacturing to China the U.K. will still be responsible for high levels of global pollution.
China is a high level polluter.
The U.K. is kidding itself about going green.
It is just a new form of NIMBYism
17
11/02/2021 11:47:04 1 1
bbc
Who is 'they'? Your children?
28
11/02/2021 12:24:16 0 0
bbc
Everybody
29
11/02/2021 12:39:01 18 0
bbc
So let me get this right. We pay trillions of pounds of money for these products and then WE have to pay to support them to transition to a more balanced economy! Apologies if I'm not rushing to set up an appeal to support this.
54
11/02/2021 17:33:39 2 0
bbc
Then stop paying those trillions to purchase their products. Done.
30
11/02/2021 12:39:33 10 1
bbc
The reality is these countries don't have enough oil to keep supplying us at current levels until 2040, that's want Dubai etc have been investing in new revenue streams.
Until we tackle China and accept some sort of "environmental tax" on their goods this is pointless as me driving an electric car is small vs the energy used by china for all the crap I buy from their which gets shipped here
31
11/02/2021 12:51:27 22 0
bbc
Oh no are the human rights abusing oil states going to go under?

Couldn't have happened to a nicer bunch
101
12/02/2021 00:57:35 1 0
bbc
Trumpistan's buddies.
24
11/02/2021 12:11:45 11 5
bbc
Virtually everyone disagrees with you.

Why?

You're wrong.
32
11/02/2021 12:58:25 1 4
bbc
But you can't explain why. Just like a typical follower of a religion.
The onus is on you - you made the claim.

But you can't, can you?

Because, deep down, you know that you're a liar who's been brainwashed by fringe websites.

Still, it hardly matters because the likes of you have been completely marginalised with your anti-science denial.
Removed
43
11/02/2021 14:46:06 4 0
bbc
The onus is on you - you made the claim.

But you can't, can you?

Because, deep down, you know that you've been brainwashed by fringe websites.

Still, it hardly matters because you have been completely marginalised with your anti-science denial.
33
11/02/2021 13:01:44 20 4
bbc
Shift to green energy 'could cost oil states $13 trillion' by 2040...The OPEC countries have had a a gravy train for years and exploited supply and demand to make vast sums of money. I have no sympathy for them and support the move to green energy to protect what's left of our delicate environment. We also need to tackle the elephant in the room namely China who are doing untold damage to earth.
102
12/02/2021 00:59:29 0 0
bbc
Why mention the PRC? That destroyed your other points.
25
QED
11/02/2021 12:13:17 5 2
bbc
I believe this is incorrect, if not please provide links to proper evidence.
34
11/02/2021 13:05:18 1 6
bbc
It's easy to find many proxy data sets on the web. They show that atmospheric CO2 level changes follow longterm temperature changes by an average of 800 years. You were being deliberately obtuse.
50
11/02/2021 16:57:27 2 1
bbc
It is theoretically possible for CO2 concentrations to either lead or lag temperature, dependent on the underlying causes. For example, temperature changes can drive subsequent carbon cycle feedbacks. However, in the present epoch, anthropogenic carbon emissions were the initial cause of global warming. Basic physics and an overwhelming consensus of climate experts tell us that.
35
11/02/2021 13:06:59 19 1
bbc
My heart bleeds for Opec and the Russians.

Not.
22
P2
11/02/2021 11:59:42 10 0
bbc
But how will they pay for there gold plated Lamborghinis?

Something must be done!
36
11/02/2021 13:10:16 5 0
bbc
I will get a job behind the bar ( when they re open) or a paper round ....and will chip in.
3
11/02/2021 10:49:27 34 0
bbc
*Shrugs shoulders*

Don't think I'll be shedding any tears for the OPEC countries. They've made a fortune over the decades and they should have put money aside for the end of oil.
37
11/02/2021 13:18:52 0 0
bbc
In Saudi - Employees of Aramco could get a plot of land free and a loan to build their house and didn't have to pay it back. Free health care for employees and their family. Wives couldn't attend doctors appointments without husbands and so they (husbands) were taxied back and forth from offshore on helicopters; as these appointments, were never done in the days off at home. Global Warming!
38
11/02/2021 13:17:01 20 2
bbc
When there's no more need for the oil, the desert will reclaim them. Arab nations could have used their colossal good fortune to make some friends, but instead they made enemies and war. They'll not be missed.
39
11/02/2021 13:27:55 9 2
bbc
Fake News. They've not lost the money as they haven't extracted the oil yet. Let's hope they never do. Wind, Solar, tidal and geothermal are the way to go.
73
11/02/2021 18:35:21 0 0
bbc
Exactly, Halcyon days with easy way to make money by just drilling holes.
32
11/02/2021 12:58:25 1 4
bbc
But you can't explain why. Just like a typical follower of a religion.
The onus is on you - you made the claim.

But you can't, can you?

Because, deep down, you know that you're a liar who's been brainwashed by fringe websites.

Still, it hardly matters because the likes of you have been completely marginalised with your anti-science denial.
Removed
41
11/02/2021 14:04:15 2 2
bbc
Let me see if I get this straight...
" XXX will lose trillions for turning into clean economy"
... is this an euphemism to say
"XXX are cashing trillions thru a global-polluting economy"?

In any case, let's keep it in mind before burning our very own rounds of fossil molecules... and strive for 7billionsolutions
42
11/02/2021 14:35:40 9 0
bbc
Great news - now just need to stop high level sport cashing in on the filthy money from these despicable regimes and i'll be happy
44
11/02/2021 15:00:13 0 2
bbc
What like the US and the UK, your mean? Better to read the article before posting.
32
11/02/2021 12:58:25 1 4
bbc
But you can't explain why. Just like a typical follower of a religion.
43
11/02/2021 14:46:06 4 0
bbc
The onus is on you - you made the claim.

But you can't, can you?

Because, deep down, you know that you've been brainwashed by fringe websites.

Still, it hardly matters because you have been completely marginalised with your anti-science denial.
42
11/02/2021 14:35:40 9 0
bbc
Great news - now just need to stop high level sport cashing in on the filthy money from these despicable regimes and i'll be happy
44
11/02/2021 15:00:13 0 2
bbc
What like the US and the UK, your mean? Better to read the article before posting.
45
11/02/2021 15:08:14 5 1
bbc
Middle East and the GCC countries are unstable already. As oil revenues decline they won’t be able to keep populations happy/under control resulting in large migrations northward to the med and the shores of the EU. Impact of global warming / water source depletion and revenue decline will turn migration into a flood -Syria x 5 or 6 ~ EU / wider Europe ain’t seen nothing yet.
55
11/02/2021 17:35:38 0 0
bbc
They just need to decarbonize their economy and no migrations will be needed
46
11/02/2021 15:24:33 4 1
bbc
oil is going no where yet
47
11/02/2021 15:43:03 2 0
bbc
Some countries have been smart to diversify (a bit) however certain countries like Nigeria, AzB, Algeria, Venezuela are heavily oil dependent with strong political power centres at times with dubious politicians. I worry about the human cost once the oil money stops flowing.
48
11/02/2021 16:11:25 6 1
bbc
And so it shall be. Less PetroPounds, PetroEuros, or PetroDollars sloshing around, less money to fund mischief like Nuclear Weapons programs, terrorism, etc. It is nigh time for the age of oil to pass...we shall see it happen in the next 30 years. That is a good thing!
49
11/02/2021 16:37:15 6 0
bbc
Think you need to put a timescale on this for it to have any meaning. There is no way Russia, Saudi Arabia, Equatorial Guinea, Nigeria, others and even the USA are going to move quickly on this, and will stall for many many years. "Carbon Tracker" tend to have a rather blinkered approach.
57
11/02/2021 17:37:32 1 0
bbc
There is a timescale, it's in the article. 2040. So they will need to act way before that.
34
11/02/2021 13:05:18 1 6
bbc
It's easy to find many proxy data sets on the web. They show that atmospheric CO2 level changes follow longterm temperature changes by an average of 800 years. You were being deliberately obtuse.
50
11/02/2021 16:57:27 2 1
bbc
It is theoretically possible for CO2 concentrations to either lead or lag temperature, dependent on the underlying causes. For example, temperature changes can drive subsequent carbon cycle feedbacks. However, in the present epoch, anthropogenic carbon emissions were the initial cause of global warming. Basic physics and an overwhelming consensus of climate experts tell us that.
51
11/02/2021 17:03:16 1 3
bbc
If this is so, a lot of Brown-skinned people will be permanently visiting America, Europe and other white-skinned countries. And these countries don't, no matter what they say, like them, especially if they are Muslim and/or Catholic nations. Elon Musk is correct when he warns that war will destroy the human population worldwide before mid-century.
53
11/02/2021 17:39:53 1 1
bbc
Elon's off to Mars with his bitcoin stash so I think you might need new prophet to follow before long.
71
11/02/2021 18:26:21 0 1
bbc
CHEERFUL THOUGHTS , THINK NOT
26
11/02/2021 12:17:23 3 8
bbc
Then they are being stupid! Most of these oil states have vast deserts with lots of sun. Use that solar power to combine CO2 and water from the air into petrol (proven technology) and then sell that to the west as it will be a zero carbon affordable practical and no range problems environentally friendly alternative to the stupid battery car idea!
52
11/02/2021 17:04:02 0 0
bbc
This process does not procude Petrol. It produces Hydrogen which should be considered as an alternative option to electric for powering Vehicles. There are alread some that use Hydrogen in an ICE.
51
11/02/2021 17:03:16 1 3
bbc
If this is so, a lot of Brown-skinned people will be permanently visiting America, Europe and other white-skinned countries. And these countries don't, no matter what they say, like them, especially if they are Muslim and/or Catholic nations. Elon Musk is correct when he warns that war will destroy the human population worldwide before mid-century.
53
11/02/2021 17:39:53 1 1
bbc
Elon's off to Mars with his bitcoin stash so I think you might need new prophet to follow before long.
29
11/02/2021 12:39:01 18 0
bbc
So let me get this right. We pay trillions of pounds of money for these products and then WE have to pay to support them to transition to a more balanced economy! Apologies if I'm not rushing to set up an appeal to support this.
54
11/02/2021 17:33:39 2 0
bbc
Then stop paying those trillions to purchase their products. Done.
45
11/02/2021 15:08:14 5 1
bbc
Middle East and the GCC countries are unstable already. As oil revenues decline they won’t be able to keep populations happy/under control resulting in large migrations northward to the med and the shores of the EU. Impact of global warming / water source depletion and revenue decline will turn migration into a flood -Syria x 5 or 6 ~ EU / wider Europe ain’t seen nothing yet.
55
11/02/2021 17:35:38 0 0
bbc
They just need to decarbonize their economy and no migrations will be needed
56
11/02/2021 17:46:26 1 0
bbc
A lot of people saying this impacts Middle Eastern countries only and they should have saved. Oils been exclusively purchased in $ for last 70 years propping up the $ and the US who btw owe trillions. So loss of currency ie no country needs dollars if no oil...So think on people. A really bankrupt superpower. Sure they’ll shrug it of, not be more active in the world to counter impact... hey ho
63
11/02/2021 18:09:17 3 3
bbc
Look what happened to Saddam, when he wanted oil priced in Euros.
75
11/02/2021 18:37:05 1 0
bbc
It's the oil-exporting countries (which the USA re-joined only recently) who can accept whatever forms of payment they wish for their oil.

US debt is funded by those who buy US Treasury bonds, etc. Historically this has been mostly US citizens and companies. The USA is far from being the only deficit spending nation. In fact compared to GDP, Japan has the biggest debt ratio and the USA ranks 8th.
49
11/02/2021 16:37:15 6 0
bbc
Think you need to put a timescale on this for it to have any meaning. There is no way Russia, Saudi Arabia, Equatorial Guinea, Nigeria, others and even the USA are going to move quickly on this, and will stall for many many years. "Carbon Tracker" tend to have a rather blinkered approach.
57
11/02/2021 17:37:32 1 0
bbc
There is a timescale, it's in the article. 2040. So they will need to act way before that.
58
11/02/2021 17:50:00 1 0
bbc
There is nothing inherently evil about money earned by producing petroleum and related products. Norway earns big oil revenues but that does not mean they are funding terrorism or nuclear bombs with this wealth. On the other hand, why should we expect Saudi Arabia to behave any better with solar power (from which they plan to commercially export electricity) than they do with revenues from oil?
70
11/02/2021 18:24:57 1 1
bbc
dont beleive to much S A petroleam money has fuelled for a better word muslim based terrorism, but i do know in previous years the biggest construction company in arabia is the same family owner AS THE INFAMOUS BIN LADEN , WHO IN LATTER PART OF 20TH CENTURY WERE asked repeatadly by USA special services not to fund BIN LADEN WHO WAS RECEIVING , a unworked wage of 80-90,000 $ PER WEEK ANNUALLY
89
11/02/2021 19:51:02 0 1
bbc
You can store oil, you can't store electricity.
59
11/02/2021 18:03:16 3 0
bbc
shame , but got to think of my future generations having a planet that doesnt choke them or drown them
60
11/02/2021 18:04:50 3 8
bbc
Carbon dioxide represents 0.04% of the atmosphere. It's a trace gas, just enough to allow photosynthesis and, thereby, maintenance of oxygen levels. Natural sources produce 750 gigatons annually. Estimates of CO2 produced by human activity are between 6 to 40 gigatons. It's not even a greenhouse gas! Kids have been brainwashed. There's big vested interests in domestic heat pumps and electric cars.
65
11/02/2021 18:15:12 1 1
bbc
car manufacturers apart from stand alone electric ones , wwernt or didnt want to change their classic petrol /deisal production methods till 2045
66
11/02/2021 18:16:41 1 0
bbc
ur right it's not the CO2 that's the problem, plants love it - it's all the other consequential pollution eg our seas choked with plastic debris n particles. oil slicks from shipping. dirty diesel fumes causing smog n disease

oil is just plain dirty. solar, wind, nuclear are much cleaner n healthier
77
Rob
11/02/2021 18:40:49 3 0
bbc
So its just a coincidence that CO2 concentrations have gone up ~50% in the last few decades - just as we have scaled up digging out carbon and burning it.

Also a coincidence that global temperatures and sea-levels accompany this increase in CO2.

Perhaps the kids have a better grasp on the facts that are actually relevant.
84
11/02/2021 19:21:39 1 0
bbc
Muchly paranoid? Heat pumps are clean solar energy stored in the ground. They are great for space and water heating. It would be fantastic if there were vested interests in heat pumps. Absolutely fantastic ??
93
art
11/02/2021 20:47:20 3 0
bbc
Err no, CO2 is a greenhouse gas! Natural sources are in balance consuming as much CO2 as they produce, it is only humans who have upset the balance since the industrial revolution.
This website explains the real situation: http://www.realclimate.org/index.php/archives/2018/01/the-global-co2-rise-the-facts-exxon-and-the-favorite-denial-tricks/
61
11/02/2021 18:03:34 2 0
bbc
Countries dependent on oil and gas will curtail production to match the demand to keep the prices up as they have always done and are currently doing
62
11/02/2021 18:05:35 0 0
bbc
It’s just a shame so many oil producing countries are not able to produce solar energy instead.
64
11/02/2021 18:12:55 1 0
bbc
err, they are - arabia is awash with sunshine
88
11/02/2021 19:49:54 0 0
bbc
watch this space. they also have nuclear - except Iran, which for some reason is not allowed
56
11/02/2021 17:46:26 1 0
bbc
A lot of people saying this impacts Middle Eastern countries only and they should have saved. Oils been exclusively purchased in $ for last 70 years propping up the $ and the US who btw owe trillions. So loss of currency ie no country needs dollars if no oil...So think on people. A really bankrupt superpower. Sure they’ll shrug it of, not be more active in the world to counter impact... hey ho
63
11/02/2021 18:09:17 3 3
bbc
Look what happened to Saddam, when he wanted oil priced in Euros.
62
11/02/2021 18:05:35 0 0
bbc
It’s just a shame so many oil producing countries are not able to produce solar energy instead.
64
11/02/2021 18:12:55 1 0
bbc
err, they are - arabia is awash with sunshine
60
11/02/2021 18:04:50 3 8
bbc
Carbon dioxide represents 0.04% of the atmosphere. It's a trace gas, just enough to allow photosynthesis and, thereby, maintenance of oxygen levels. Natural sources produce 750 gigatons annually. Estimates of CO2 produced by human activity are between 6 to 40 gigatons. It's not even a greenhouse gas! Kids have been brainwashed. There's big vested interests in domestic heat pumps and electric cars.
65
11/02/2021 18:15:12 1 1
bbc
car manufacturers apart from stand alone electric ones , wwernt or didnt want to change their classic petrol /deisal production methods till 2045
67
11/02/2021 18:21:25 2 0
bbc
Yes, but the lobbyists have done an effective job now.
60
11/02/2021 18:04:50 3 8
bbc
Carbon dioxide represents 0.04% of the atmosphere. It's a trace gas, just enough to allow photosynthesis and, thereby, maintenance of oxygen levels. Natural sources produce 750 gigatons annually. Estimates of CO2 produced by human activity are between 6 to 40 gigatons. It's not even a greenhouse gas! Kids have been brainwashed. There's big vested interests in domestic heat pumps and electric cars.
66
11/02/2021 18:16:41 1 0
bbc
ur right it's not the CO2 that's the problem, plants love it - it's all the other consequential pollution eg our seas choked with plastic debris n particles. oil slicks from shipping. dirty diesel fumes causing smog n disease

oil is just plain dirty. solar, wind, nuclear are much cleaner n healthier
90
11/02/2021 19:52:38 0 1
bbc
typed on a machine made from plastic. The sea is not choked with plastic. There are places where there plastic has accumulated. This was badly disposed of by people who seemed to not think of their action. A bit like a person complaining about plastic and then using a device made from it to complain.
65
11/02/2021 18:15:12 1 1
bbc
car manufacturers apart from stand alone electric ones , wwernt or didnt want to change their classic petrol /deisal production methods till 2045
67
11/02/2021 18:21:25 2 0
bbc
Yes, but the lobbyists have done an effective job now.
51
11/02/2021 17:03:16 1 3
bbc
If this is so, a lot of Brown-skinned people will be permanently visiting America, Europe and other white-skinned countries. And these countries don't, no matter what they say, like them, especially if they are Muslim and/or Catholic nations. Elon Musk is correct when he warns that war will destroy the human population worldwide before mid-century.
69
11/02/2021 18:21:35 1 1
bbc
oil was only ever a temporary source of energy for humans until fusion was mastered
98
11/02/2021 23:25:25 0 0
bbc
You mean the mythical "ten years away" nuclear fusion? It was ten years away in 1980, 1990, in 2000, in 2010,

And in 2021? Ten years away......
58
11/02/2021 17:50:00 1 0
bbc
There is nothing inherently evil about money earned by producing petroleum and related products. Norway earns big oil revenues but that does not mean they are funding terrorism or nuclear bombs with this wealth. On the other hand, why should we expect Saudi Arabia to behave any better with solar power (from which they plan to commercially export electricity) than they do with revenues from oil?
70
11/02/2021 18:24:57 1 1
bbc
dont beleive to much S A petroleam money has fuelled for a better word muslim based terrorism, but i do know in previous years the biggest construction company in arabia is the same family owner AS THE INFAMOUS BIN LADEN , WHO IN LATTER PART OF 20TH CENTURY WERE asked repeatadly by USA special services not to fund BIN LADEN WHO WAS RECEIVING , a unworked wage of 80-90,000 $ PER WEEK ANNUALLY
91
11/02/2021 19:56:32 0 0
bbc
The USA set up and funded the terror system in the first place. If your brother was a murderer would you expect to be jailed for his crimes?
51
11/02/2021 17:03:16 1 3
bbc
If this is so, a lot of Brown-skinned people will be permanently visiting America, Europe and other white-skinned countries. And these countries don't, no matter what they say, like them, especially if they are Muslim and/or Catholic nations. Elon Musk is correct when he warns that war will destroy the human population worldwide before mid-century.
71
11/02/2021 18:26:21 0 1
bbc
CHEERFUL THOUGHTS , THINK NOT
72
11/02/2021 18:35:19 1 1
bbc
Good. Maybe they will all grow up now the oil is less valuable and start treating their citizens a bit better and the west will stop sucking up to them, hungry to rob there resources. Perhaps?
39
11/02/2021 13:27:55 9 2
bbc
Fake News. They've not lost the money as they haven't extracted the oil yet. Let's hope they never do. Wind, Solar, tidal and geothermal are the way to go.
73
11/02/2021 18:35:21 0 0
bbc
Exactly, Halcyon days with easy way to make money by just drilling holes.
78
11/02/2021 18:47:51 1 0
bbc
You were Hugh Hefner in a past life, weren't you?
74
Rob
11/02/2021 18:36:27 2 1
bbc
What's missing here is the impact on geopolitics.

What will Russia do without oil and gas revenue?

The US is a petrostate and will lose wealth and power. China is an electrostate and will gain both. It won't go down well in the US.

The transition away from fossil fuel will be as destabilising as it is necessary
81
Sam
11/02/2021 18:59:35 4 1
bbc
Ha ha ha.

China has more than 120Gw of coal fired electricity power generation under construction..... more than the rest of the world combined.

An "electrostate" ...... whatever that is.

More like the biggest polluter on the planet.
56
11/02/2021 17:46:26 1 0
bbc
A lot of people saying this impacts Middle Eastern countries only and they should have saved. Oils been exclusively purchased in $ for last 70 years propping up the $ and the US who btw owe trillions. So loss of currency ie no country needs dollars if no oil...So think on people. A really bankrupt superpower. Sure they’ll shrug it of, not be more active in the world to counter impact... hey ho
75
11/02/2021 18:37:05 1 0
bbc
It's the oil-exporting countries (which the USA re-joined only recently) who can accept whatever forms of payment they wish for their oil.

US debt is funded by those who buy US Treasury bonds, etc. Historically this has been mostly US citizens and companies. The USA is far from being the only deficit spending nation. In fact compared to GDP, Japan has the biggest debt ratio and the USA ranks 8th.
76
11/02/2021 18:38:54 3 0
bbc
so oil states lose revenue. oh dear, how sad, never mind.
95
mja
11/02/2021 21:43:06 0 0
bbc
Just a reminder that he UK is an oil state too!
60
11/02/2021 18:04:50 3 8
bbc
Carbon dioxide represents 0.04% of the atmosphere. It's a trace gas, just enough to allow photosynthesis and, thereby, maintenance of oxygen levels. Natural sources produce 750 gigatons annually. Estimates of CO2 produced by human activity are between 6 to 40 gigatons. It's not even a greenhouse gas! Kids have been brainwashed. There's big vested interests in domestic heat pumps and electric cars.
77
Rob
11/02/2021 18:40:49 3 0
bbc
So its just a coincidence that CO2 concentrations have gone up ~50% in the last few decades - just as we have scaled up digging out carbon and burning it.

Also a coincidence that global temperatures and sea-levels accompany this increase in CO2.

Perhaps the kids have a better grasp on the facts that are actually relevant.
79
11/02/2021 18:49:29 1 2
bbc
Try telling them that when they want a lift to school again.
73
11/02/2021 18:35:21 0 0
bbc
Exactly, Halcyon days with easy way to make money by just drilling holes.
78
11/02/2021 18:47:51 1 0
bbc
You were Hugh Hefner in a past life, weren't you?
77
Rob
11/02/2021 18:40:49 3 0
bbc
So its just a coincidence that CO2 concentrations have gone up ~50% in the last few decades - just as we have scaled up digging out carbon and burning it.

Also a coincidence that global temperatures and sea-levels accompany this increase in CO2.

Perhaps the kids have a better grasp on the facts that are actually relevant.
79
11/02/2021 18:49:29 1 2
bbc
Try telling them that when they want a lift to school again.
80
Sam
11/02/2021 18:54:21 3 2
bbc
The technology exists to extract hydrogen from oil wells leaving the carbon in the ground.

Big oil needs to invest in this instead of spending millions green washing traditional oil.
86
11/02/2021 19:47:21 1 1
bbc
perhaps you should post the link so the world can use this wonderful idea
106
12/02/2021 04:23:42 0 0
bbc
Sam
You are correct yes it is possible but sadly non viable on a cost basis. It is the problem of separating the hydrogen content from the deadly Hydrogen Sulfide gas (H2S) that is the problem. Ask anyone who has ever worked at any level on a oil exploration platform or rig. Far safer to extract the hydrogen from the sea water using desalination plants and electrolysis.
74
Rob
11/02/2021 18:36:27 2 1
bbc
What's missing here is the impact on geopolitics.

What will Russia do without oil and gas revenue?

The US is a petrostate and will lose wealth and power. China is an electrostate and will gain both. It won't go down well in the US.

The transition away from fossil fuel will be as destabilising as it is necessary
81
Sam
11/02/2021 18:59:35 4 1
bbc
Ha ha ha.

China has more than 120Gw of coal fired electricity power generation under construction..... more than the rest of the world combined.

An "electrostate" ...... whatever that is.

More like the biggest polluter on the planet.
83
11/02/2021 19:17:07 0 0
bbc
Per capita? No, that’s the US then Germany.
87
11/02/2021 19:48:37 1 0
bbc
China has built more solar in the last year than the rest of the world did in total to date
82
11/02/2021 19:01:39 3 2
bbc
My be it will quell the spread of terrorism funding.
81
Sam
11/02/2021 18:59:35 4 1
bbc
Ha ha ha.

China has more than 120Gw of coal fired electricity power generation under construction..... more than the rest of the world combined.

An "electrostate" ...... whatever that is.

More like the biggest polluter on the planet.
83
11/02/2021 19:17:07 0 0
bbc
Per capita? No, that’s the US then Germany.
60
11/02/2021 18:04:50 3 8
bbc
Carbon dioxide represents 0.04% of the atmosphere. It's a trace gas, just enough to allow photosynthesis and, thereby, maintenance of oxygen levels. Natural sources produce 750 gigatons annually. Estimates of CO2 produced by human activity are between 6 to 40 gigatons. It's not even a greenhouse gas! Kids have been brainwashed. There's big vested interests in domestic heat pumps and electric cars.
84
11/02/2021 19:21:39 1 0
bbc
Muchly paranoid? Heat pumps are clean solar energy stored in the ground. They are great for space and water heating. It would be fantastic if there were vested interests in heat pumps. Absolutely fantastic ??
85
11/02/2021 19:32:54 3 1
bbc
By 2040 with demand increasing until then? Who came up with that projection, the fossil fuel industry? More likely going to be a dramatic shift away from fossil fuels long before the end of this decade. Big industry‘s cheap, dirty energy days are over. They have an energy crisis not society. Society can get all its energy needs from clean renewables. Stuff big business and its superfluous crap.
80
Sam
11/02/2021 18:54:21 3 2
bbc
The technology exists to extract hydrogen from oil wells leaving the carbon in the ground.

Big oil needs to invest in this instead of spending millions green washing traditional oil.
86
11/02/2021 19:47:21 1 1
bbc
perhaps you should post the link so the world can use this wonderful idea
97
11/02/2021 22:05:54 1 0
bbc
This link is for natural gas, but likely can be modified for oil. This is a bridging technology, until we can get away from all hydro carbons...

https://www.czero.energy/
81
Sam
11/02/2021 18:59:35 4 1
bbc
Ha ha ha.

China has more than 120Gw of coal fired electricity power generation under construction..... more than the rest of the world combined.

An "electrostate" ...... whatever that is.

More like the biggest polluter on the planet.
87
11/02/2021 19:48:37 1 0
bbc
China has built more solar in the last year than the rest of the world did in total to date
62
11/02/2021 18:05:35 0 0
bbc
It’s just a shame so many oil producing countries are not able to produce solar energy instead.
88
11/02/2021 19:49:54 0 0
bbc
watch this space. they also have nuclear - except Iran, which for some reason is not allowed
58
11/02/2021 17:50:00 1 0
bbc
There is nothing inherently evil about money earned by producing petroleum and related products. Norway earns big oil revenues but that does not mean they are funding terrorism or nuclear bombs with this wealth. On the other hand, why should we expect Saudi Arabia to behave any better with solar power (from which they plan to commercially export electricity) than they do with revenues from oil?
89
11/02/2021 19:51:02 0 1
bbc
You can store oil, you can't store electricity.
66
11/02/2021 18:16:41 1 0
bbc
ur right it's not the CO2 that's the problem, plants love it - it's all the other consequential pollution eg our seas choked with plastic debris n particles. oil slicks from shipping. dirty diesel fumes causing smog n disease

oil is just plain dirty. solar, wind, nuclear are much cleaner n healthier
90
11/02/2021 19:52:38 0 1
bbc
typed on a machine made from plastic. The sea is not choked with plastic. There are places where there plastic has accumulated. This was badly disposed of by people who seemed to not think of their action. A bit like a person complaining about plastic and then using a device made from it to complain.
70
11/02/2021 18:24:57 1 1
bbc
dont beleive to much S A petroleam money has fuelled for a better word muslim based terrorism, but i do know in previous years the biggest construction company in arabia is the same family owner AS THE INFAMOUS BIN LADEN , WHO IN LATTER PART OF 20TH CENTURY WERE asked repeatadly by USA special services not to fund BIN LADEN WHO WAS RECEIVING , a unworked wage of 80-90,000 $ PER WEEK ANNUALLY
91
11/02/2021 19:56:32 0 0
bbc
The USA set up and funded the terror system in the first place. If your brother was a murderer would you expect to be jailed for his crimes?
92
11/02/2021 20:02:18 2 0
bbc
The Arab states will be almost giving oil away soon. Well just above cost anyway. This means the North Sea is dead and buried.
104
12/02/2021 04:06:05 0 0
bbc
Chloe
Please keep up. For a decade the "North Sea" supply of oil has become a non viable proposition due to the sheer rising costs of it's difficult extraction. Large oil companies are already selling their offshore rights to smaller companies. Sadly the bonanza of the North Sea is almost over physically as well as financially. However politically speaking the SNP apparently have not grasped this.
105
12/02/2021 04:11:45 0 0
bbc
Reading some of the comments here I get the feeling there are many who do not realise, no matter the level of destruction to the planet fossil fuels cause, many of our pensions & future pensions hinge on this industry and the large conglomerates that run it. IE company share holdings by pension funds. Let us hope these pension fund managers have other irons in the fire to protect us.
60
11/02/2021 18:04:50 3 8
bbc
Carbon dioxide represents 0.04% of the atmosphere. It's a trace gas, just enough to allow photosynthesis and, thereby, maintenance of oxygen levels. Natural sources produce 750 gigatons annually. Estimates of CO2 produced by human activity are between 6 to 40 gigatons. It's not even a greenhouse gas! Kids have been brainwashed. There's big vested interests in domestic heat pumps and electric cars.
93
art
11/02/2021 20:47:20 3 0
bbc
Err no, CO2 is a greenhouse gas! Natural sources are in balance consuming as much CO2 as they produce, it is only humans who have upset the balance since the industrial revolution.
This website explains the real situation: http://www.realclimate.org/index.php/archives/2018/01/the-global-co2-rise-the-facts-exxon-and-the-favorite-denial-tricks/
94
11/02/2021 21:19:50 1 0
bbc
If ever there was a need for forthright geo-politics and science to merge then it surely must be now, or do we all revert to cynicism.
76
11/02/2021 18:38:54 3 0
bbc
so oil states lose revenue. oh dear, how sad, never mind.
95
mja
11/02/2021 21:43:06 0 0
bbc
Just a reminder that he UK is an oil state too!
96
11/02/2021 21:49:50 2 1
bbc
Well, that's tough!
What do people want? ... a 'clogged up' planet or somewhere where weather might just get back to normal!
86
11/02/2021 19:47:21 1 1
bbc
perhaps you should post the link so the world can use this wonderful idea
97
11/02/2021 22:05:54 1 0
bbc
This link is for natural gas, but likely can be modified for oil. This is a bridging technology, until we can get away from all hydro carbons...

https://www.czero.energy/
69
11/02/2021 18:21:35 1 1
bbc
oil was only ever a temporary source of energy for humans until fusion was mastered
98
11/02/2021 23:25:25 0 0
bbc
You mean the mythical "ten years away" nuclear fusion? It was ten years away in 1980, 1990, in 2000, in 2010,

And in 2021? Ten years away......
99
GMC
11/02/2021 23:52:52 1 0
bbc
The Gulf countries know this, they introduced VAT in 2017 and started reducing subsidies.
The real problem is Saudi, they have a large population to subsidise, when the Giros stop all hell will erupt
Tourisim is not going to save them, wait for the fighting as the rulers to keep them in check whilst holding onto their ill gotten gains, same for the other countries eventually

Big problem looming
100
11/02/2021 23:56:56 1 0
bbc
Lol. That is all.