"We’re seeing a spectacular technology response as the wind, solar, and battery industries are enabling new energy technologies to challenge fossil fuel technologies at lower prices." 4/
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"Specifically, there are 12 countries where its over 10% of GDP. All those countries, clearly, will be at risk as the rents from the fossil fuel sector start to decline." 13/
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"Thirdly, you have stock markets and debt markets in the West where up to a quarter of debt and equity indices are in fossil and related sectors which will be damaged as this transition starts to play out." 14/
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"The key question is *when* will we see the peak. Investors need to realize that actually the peak for the old, fossil fuel system will come very, very early in the energy transition." 15/
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"You saw the same thing, for example, when we shifted from horses to cars after 1900. It tends to come when the new challenging technology is quite small – about 3-5% of total supply." 16/
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"In this specific instance, if solar and wind continue to grow at current rates along their S curves and global energy demand continues to grow 1-1.5% we will see this peak demand for fossil fuels in the 2020s." /end
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