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Energy Mix – The Final Word
As a roundup to my blog's series on our current mix of energy sources and the future problems this will bring there were some interesting releases over the last few weeks on this matter.
The International Energy Agency said that we were over reliant on coal and need to boost incentives for clean coal. Coal whilst being “dirty” produces about 47% of new worldwide electricity in the last decade. They propose energy efficiencies and subsidies to promote new development in renewable energy and concepts such as electric cars. They also addressed recent trouble in Japan with the nuclear reactor saying that nuclear power is still part of our energy mix and needs to increase output by about 30% before 2020.
The IMF this week released a report citing the impact on global growth if a timely alternative is not found to oil. The risk is obvious. As they note some savings will be found in efficiencies others will be found in the development of alternatives such as bio fuels and electric cars. Interestingly, they also talked of taxes on oil which the revenue could be used to research the answers for this conundrum. Interestingly, in Australia we already have a lot of taxes and levies on fuel I wonder what proportion of this revenue going to the government is being spent on the development of efficiencies or alternatives?
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