The Chief Executive of BP says that Policymakers are to be regarded with suspicion if they believe that renewable sources of energy will be able to fully provide Britain with its energy requirement for the next decade.
Tony Hayward says that the ambitious aim will not be met through the planned rise in renewable energy and nuclear programme. In this same perspective, it would be unwise to downplay the importance of energy conservation and natural gas when focusing on decreasing carbon emission.
The stability of energy supply requires focus that is more widespread. It is necessary that infrastructure in such as gas storage and other investment-envisaging fossil fuel as well.
Mr. Hayward, the head of BP, an oil company did, however, agree that hydrocarbons will play a primordial part in sustaining global energy supply. According to BP, the energy demand will double by 2050. This will require investment of approximately a trillion dollar per annum to be met.
The chief executive of BP also mentioned that renewable energy keeps on increasing. Nonetheless, it is essential to be realistic about its actual contribution. Solar, Wind, Wave, geothermal and tidal energy do merely supply up to a percent of the world demand for energy. According to the International Energy Agency, by 2030 their contribution might only rise to a feeble 5 percent of world’s demand for energy.
Controversially, Mr. Hayward considers that the Copenhagen climate change summit was a success. It might not have been able to form legal bindings on CO2 conditions. However, it was the first time countries gathered from across the world to take a congruent step to address climate change. Efforts are now more collaborative and countries are going in the right direction when discussing about climate change and renewable energy.
Source: Independent
Fri, Feb 12, 2010
Renewable Power