Data from the @EIAgov International Energy Outlook 2017: https://www.eia.gov/outlooks/ieo/
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A stunning chart. Four years ago, the @EIAgov expected world coal use to grow 39% by 2040. Now it expects just 1%. Not per year: in totalpic.twitter.com/ZeX8iHDQKf
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HT
@EverettKWheeler, who first showed the shift in expected coal use for China, which drives the global outlook:https://twitter.com/taykuy/status/908374396032749568 …
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For more charts on the future of coal, see:https://www.ft.com/content/82f9087c-9cdd-11e7-8cd4-932067fbf946 …
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Any macro (Coal, Healthcare spend, etc.) projection that goes out to 2050 is not only wrong, but improperly anchors the reader
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Up to a point. We shouldn't treat any forecast as a revealed truth, I agree. But does it help frame thinking about the future? I think so
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The EIA view on coal "helped" US coal companies frame their thinking. They raised debt for acquisitions and expansion, and went bankrupt.
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Agreed. Exactly the point I am making: forecasts inform decision-making, but can't be relied on. That's true of these new projections, too
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"new policy scenarios"
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It's the "reference case" in the EIA's terminology
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Look under the hood and the big thing that's changed in
@EIAgov's projections isn't gas or renewables, but GDP growth and resulting demand.pic.twitter.com/RKMh967gKJ
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Interesting thanks. Still true that coal affected more than gas or oil by the GDP downgrade. And renewables revised up. Coal's share shrinks
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Is this declining energy demand due to GDP downgrade or more energy efficiency, or both?
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A slow-down in projected economic growth. EIA upward-revised their projections for the energy-intensity of GDP.
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Good, now we urgently need it's use to decrease. Fast fast fast!
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Coal is dead. Time for the funeral. Time to move on.
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Wind/solar don't work & gets Obama's buddies millions of our money.We pay N. Korea and Iran BILLIONS to build "nuclear plants", but we can't
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See also: oil...?
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And of course, that means Trump is firmly behind coal. Because Mr 4 times bankrupt can't pick a winner.
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