DeepSummary
The episode discusses a report by BNP Paribas stating that solar and wind energy paired with electric vehicles provide up to 7 times more useful energy for mobility than gasoline per dollar spent. The hosts analyze the report's findings, EV growth projections, and potential impact on oil companies.
The episode then covers a regulatory decision by the Trump administration to delay an 800-megawatt offshore wind project off the Massachusetts coast. The hosts discuss the implications for the offshore wind industry and whether the move is politically motivated.
Finally, the episode examines the rise of 16-year-old climate activist Greta Thunberg and the reactions from conservative media outlets, including a New York Times op-ed that called her approach "anti-democratic."
Key Episodes Takeaways
- A report by BNP Paribas states that renewable energy and electric vehicles are more cost-effective than oil for transportation.
- The report's findings could pose a threat to oil companies and their business models if they don't adapt.
- The Trump administration delayed a major offshore wind project, potentially hurting the industry's growth on the East Coast.
- Conservative media has criticized teen climate activist Greta Thunberg, with some outlets calling her approach "anti-democratic."
- The hosts argue that Thunberg's activism is a democratic exercise and necessary to spur action on climate change.
- The episode highlights the ongoing tension between the transition to clean energy and the entrenchment of fossil fuel interests.
- Despite regulatory setbacks, the economic case for renewable energy and electric vehicles continues to strengthen.
- Oil companies face increasing pressure to adapt their business models and investments to align with the energy transition.
Top Episodes Quotes
- “I don't know that this report was groundbreaking in terms of the way in which it informed us as much as the way it characterized the problem.“ by Jigger Shah
- “Activism is the foundation of democracy. I mean, you think OPEC is democratic? You know, there have been a few select people that have been basically running the energy markets around the world, and she is saying, all right, guys, we got to do something different.“ by Katherine Hamilton
- “I think at this point, no one has the answer to that. There are very few details about what this review will look like and what the timeline will be, which is what is angering so many people.“ by Stephen Lacey
- “Mark's just saying, if you don't start investing more intelligently every year, then you're going to dig the hole deeper and deeper for yourself.“ by Jigger Shah
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Episode Information
The Energy Gang
Wood Mackenzie
8/16/19
Solar and wind sent European utilities into financial disarray, and U.S. utilities are facing a similar fate. Are global oil companies next?
A new report from one of the world’s biggest banks, BNP Paribas, says that solar and wind paired with electric cars provide up to 7 times more useful energy for mobility than gasoline dollar for dollar. And that economic reality could hit oil companies sooner than they think.
“The oil industry has never before in its history faced the kind of threat that renewable electricity in tandem with EVs poses to its business model,” concludes the report.
This week, we’ll dig into the findings. How does it square with current projections for EV growth and oil demand?
Then, a regulatory surprise from the Trump Administration is delaying an 800-megawatt offshore wind project. It could also hurt other projects planned for the East Coast. Is this a careful step, or a cynical political move from a hostile White House?
Finally, 16-year-old climate activist Greta Thunberg is on her way to the U.S. — and she’s come under fire from the conservative media. We’ll look at the strange reaction to her rise and influence.
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