2019 was likely peak fossil fuel demand and this marks the beginning of runaway change: the tipping point where positive feedback loops begin to dominate the system. Positive feedback loops mean disruption. In Spiralling Disruption we identify seven virtuous and vicious feedback loops that are driving a rapid transformation of the global energy system, as renewables displace fossil fuels: costs, technology, expectations, finance, society, politics and geopolitics. As these loops feed off each other, they give rise to the non-linear “S-curve” typical of technology transitions.
Carbon Tracker 5th Aug 2021 read more »
Boris Johnson today signalled he will not block the development of a controversial new oilfield in the North Sea, despite insisting he is seeking an “ambitious” agreement to rein in climate change at a global summit he will host in Glasgow this autumn. Oil giant Shell and private equity-backed Siccar Point Energy are expected to receive final approval to go into production at the Cambo field shortly before the United Nations Cop26 conference in Glasgow, where almost 200 countries will be asked to sign up to measures to limit global warming to 1.5C. Friends of the Earth Scotland today handed an 80,000-signature petition to 10 Downing Street warning that development of the field would “run roughshod over the UK’s commitments to meeting its climate targets”.
Independent 5th Aug 2021 read more »
Boris Johnson has insisted that “we can’t just tear up contracts” as campaigners urged him to block the Cambo oilfield project, west of Shetland. Industry regulators the Oil and Gas Authority and the Offshore Petroleum Regulator for Environment & Decommissioning are assessing plans for developing the Cambo field, submitted by Siccar Point Energy and Shell. If the field development plan is rubber stamped, around 150-170 million barrels would be produced during the first phase.
Energy Voice 6th Aug 2021 read more »
Scotsman 6th Aug 2021 read more »