Emily Cunningham

Such good news: "the current fossil fuel system runs at a loss, and will amass losses every year." The world's 8th largest bank, BNP Paribas, says: "The economics of renewables are impossible for oil to compete with when looked at over the cycle." Read their report. 1/https://twitter.com/GregorMacdonald/status/1158763843708805120 …

Oil's days are numbered. "The economics of new wind and solar projects combined with EVs are set to become irresistible." "Renewable electricity has a short-run marginal cost of zero, is cleaner environmentally, could readily replace up to 40% of global oil demand." 2/

DAMN "oil industry has never before in its history faced the kind of threat that renewables... pose to its business model: * short-run marginal cost of zero * much cleaner environmentally * much easier to transport * could readily replace up to 40% of global oil demand" /end

Ooh! @JeremyLeggett created a slideshow on this groundbreaking report from @BNPParibas's Mark Lewis @MCL1965. Oil's days are numbered. https://jeremyleggett.net/2019/08/05/a-groundbreaking-report-out-today-shows-huge-capital-efficiency-advantage-of-solar-and-wind-over-oil/ …

Simply glorious news. "Even if we add in the cost of building new network infrastructure to come with all the new wind and/or solar capacity implied by replacing gasoline with renewables and EVs, the economics of renewables still crush those of oil." #CarbonBubble *Crack!*

"Extrapolating total expenditure on gasoline in 2018 for the next 25 years would see $25 trn spent on mobility...We estimate the cost of new renewables projects [able] to match the 2018 level of mobility provided by gasoline every year for the next 25 years at only $4.6-$5.2trn."

Yup: “The economics of oil for gasoline and diesel vehicles versus wind- and solar-powered EVs are now in relentless and irreversible decline, with far-reaching implications for both policymakers and the oil majors.” #CarbonBubble