https://www.manhattancontrarian.com/blog/2020-7-9-energy-production-and-consu
Over the past several days, you have probably seen multiple articles reporting on reverses suffered in the U.S. courts by developers of pipelines to transport oil and natural gas. In one case, a Federal District Court even ordered an existing, operational pipeline to shut down pending further environmental review. The multiple court decisions have been covered in the New York Times, Washington Post, LA Times, CNN, and every other large news source that you can think of.
Meanwhile, on June 19 the BP oil company issued its annual Report titled “Statistical Review of World Energy,” this version covering the year 2019. I’ll bet you haven’t seen anything in the news about that one. I make that bet because, aside from one article in Forbes magazine, every piece that I can find covering the BP Report appears in some sort of specialized or industry publication.
If you just see what appears before you in your news feed, you could be forgiven for getting the impression that producers of fossil fuels are on the run and will shortly be driven from the scene. But if you take the time to look, you can find the real picture in the BP Report. In summary, world production and consumption of fossil fuels continue their steady and inexorable aggregate growth (although with ongoing substitution of natural gas for coal). Despite all you have read about plans to reduce or eliminate CO2 emissions, in fact those emissions continue to grow from year to year. Production from “renewables” also has been growing, but at a pace insufficient to result in any reduction in use of fossil fuels. Indeed, it’s not clear that any amount of increases in intermittent wind and solar sources can result in reductions in use of fossil fuels, since the wind and solar sources require full backup from dispatchable sources. Meanwhile, the market shares between and among the energy sources barely shift from year to year.