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AI ISN’T JUST THREATENING TO TAKE OUR JOBS, IT’S ALSO DRAINING OUR ELECTRICITY. Data centres centers used to have power demand measured in the tens of megawatts. Now they are in the hundreds of megawatts, and the new ones that are being proposed have demand in the thousands of megawatts: gigawatts. At the Distributech conference in Feburary, Harry Sideris of Duke Energy said it used to be a big deal when they had a customer wanting to add 10MW or 20MW of load. Now they have several planned data centers for AI needing 1000MW each. How is this additional demand being met? The good news, from a climate point of view, is that part of the answer is going to be a lot more solar and wind power, and energy storage. The bad news is that, according to the plans that US utilities are setting out, there are going to be more gas-fired power plants, too. US gas-fired generation capacity is on course to rise by 25% over the next 15 years, and although those plants will increasingly be used mainly to back up variable solar and wind power, they still mean that the chances of achieving net zero emissions from electricity by 2035 look slim. On this episode of Wood Mackenzie's The Energy Gang, Ed Crooks is joined by Amy Myers-Jaffe, Director of NYU’s Energy, Climate Justice and Sustainability Lab, who returns to the show to explore the feasible paths to net zero in light of increased energy demand. Also joining this week is Samantha Gross, Director of the Energy Security and Climate Initiative at the Brookings Institution. Together they debate the outlook for electricity demand, and take stock of the implications for theclimate goals of the Paris Agreement. One big question: Is it time to give up on the objective of limiting global warming to 1.5 degrees C? The world looks like crossing that threshold soon. In fact, on one measure, we have already crossed it. The 1.5 degrees C limit has been seen as essential to avoid the worst effects of climate change. But John Kerry, who just stepped down as President Joe Biden’s climate envoy, said recently that the world was on course for more like 2.5 degrees of warming. Many businesses still have alignment with a 1.5 degree scenario as one of their climate goals. Ed, Amy and Samantha discuss whether it’s time to face reality and set new goals that are more likely to be achievable. And finally, more evidence that despite all the negative commentary around EVs, on a global scale the industry is doing just fine. In China, sales are surging and prices are falling. Sales of what China calls “new energy vehicles” – that is, battery electrics, plug-in hybrids, and fuel cell vehicles – were up 37.5% in the first two months of 2024 compared with the same period of 2023. In that period – January and February of 2024 – those New Energy Vehicles took 33.5% of the car market. The prices are on the way down too. Reuters has calculated that BYD has cut the prices of its EVs by an average of 17%. This seems like great news for cutting emissions and eventually decarbonizing road transport. But what does it mean for the car industries in other countries? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
This bonus episode of Wood Mackenzie’s The Energy Gang is our third from the Distributech conference in Orlando. Distributech is the leading event for the electricity transmission and distribution industry in North America. It gave our host Ed Crooks a fantastic opportunity to talk to many of the leading figures from the industry, including those who provide technology for moving and managing electricity, and those who use that technology to serve their customers. In this episode, Ed is joined by Ali Ipakchi, Executive VP of Smart Grids and Green Power at OATI, a grid technology company. Ali was at Dtech in 2014, and some of the issues he was talking about then seem familiar still today. So what has really changed in technology for the power industry since then? Ali talks about how ideas and technologies that were cutting-edge and radical a decade ago are now becoming mainstream. Ed also sat down with Don McPhail, who’s Business Manager for energy and decarbonisation at Uplight, a software company that serves utilities. They talked about the importance of demand management, the integration of distributed energy resources, and the automation of customer engagement processes as examples of key factors for developing a more flexible and resilient power grid. Finally, Ed talked to two of Wood Mackensie’s delegates at Distributech: Fahimeh Kazempour, head of grid modernisation, and Elham Akhavan, senior research analyst specialising in grid edge and microgrids. They share their impressions of the events, highlight some of the ideas and innovations they found most interesting, and explore the implications for the wider questions of the energy transition. They also address a critical question in the hectic, exciting conversation about the power industry: how much of it is hype, and how much reflects real change? Fahimeh asks the question: whatever happened to the Blockchain? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
ON THIS EPISODE OF WOOD MACKENZIE'S THE ENERGY GANG: wHAT THE HISTORY OF INNOVATION IN SOLAR POWER AND BATTERIES CAN TEACH US ABOUT THE RIGHT WAYS TO SUPPORT CLEAN ENERGY BREAKTHROUGHS. As the world moves towards a more sustainable energy future, government support is essential for research to develop new technologies, and for investment to deploy them at scale. But policymakers often seem to be blundering in the dark, grasping for policies that they hope will have the outcomes they want. So how do we know which strategies will be most effective for encouraging the progress we need, both to bring down the costs of existing technologies such as solar and wind power, and to create new breakthroughs in areas such as long-duration battery storage and nuclear power. On today’s episode, host Ed Crooks and regular guest Melissa Lott are joined by newcomer Jessika Trancik, a professor of energy studies at the Massachusetts Institute of Technology (MIT), to discuss the progress of clean energy technologies. Jessika explains what we can learn from the success stories of the past half-century, such as solar panels and lithium ion batteries. Her work shows that a combination of government backing for R&D and market incentives for investment has been critical in driving innovation. In industries such as solar panels and batteries, where costs have plummeted, support for research and market signals such as feed-in tariffs have complemented each other, fostering competitive innovation in the private sector and delivering rapid progress in critical technologies. The gang discuss electric vehicles as one example of a technology that is receiving plenty of government support. Melissa discusses some new data on US emissions, showing that while there was a decline overall last year, the transport sector saw an increase. Even so, there are plenty of positive signs for the transition in the data, she says. While the shift to EVs may slow, it is still moving forward. Jessika wrote recently that “switching to an electric vehicle is one of the most impactful changes that an individual can make to reduce their personal contribution to climate change, and she explains that view. The costs of clean energy technologies aren’t limited to the price of the hardware. Soft costs, encompassing such items as labour, planning, permitting and logistics, can constitute a significant portion of the total expense. Inefficiencies in regulatory processes and in information-sharing can amplify these costs and contribute to delays in the adoption of new technologies. Jessika has been researching into soft technologies, which can include things like software, process knowledge and project management methods, to see how they can contribute to cost reduction and project acceleration. She talks about her work, which you can find out more about on the MIT website at news.MIT.edu. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
WHEN MOST PEOPLE DRIVE ELECTRIC CARS, WHAT DOES THAT MEAN FOR THE GRID? This bonus episode of Wood Mackenzie’s The Energy Gang is our second from the Distributech conference in Orlando. Distributech is the leading event for the electricity transmission and distribution industry in North America. It gave our host Ed Crooks a fantastic opportunity to talk to many of the leading figures from the industry, including those who provide technology for moving and managing electricity, and those who use that technology to serve their customers. In this episode, Ed is joined by Quinn Nakayama, senior director of Grid Research Innovation and Development at Pacific Gas and Electric Company (PG&E) in California, to help us understand the transformative impact of electric vehicles on energy utilities and the grid. Quinn dives deep into the ways that the EV boom is shaking up customer relationships and forcing utility companies to take a fresh look at grid management. California is at the cutting edge of the EV revolution, and Quinn explains how PG&E is tackling issues that many other utilities around the world will have to address, from ensuring grid resilience to maintaining customer trust. He also discusses cutting-edge vehicle-to-grid technology, and outlines the changing relationships between utilities and vehicle manufacturers. And he shines a light on the pivotal role played by regulators in this critical sector for the energy transition. It’s an in-depth discussion on how the rise in EVs is forcing utilities to rethink infrastructure, optimise energy use, and plan for a very different future. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
WHAT AI MEANS FOR THE ENERGY TRANSITION IN THE ELECTRICITY INDUSTRY Welcome to a special episode of Wood Mackenzie's The Energy Gang, recorded at the Distributech 2024 conference in Orlando. Distributech is the leading event in North America for the electricity transmission and distribution industry. It provides a fantastic opportunity to talk to the companies that provide technology for moving and managing electricity, and to the utilities and other companies that use that technology. The impact of artificial intelligence is one of the central themes of the conference, and host Ed Crooks has been meeting industry leaders to discuss the implications of AI and other new technologies for the future of electricity. From the need for more power to supply data centers for AI applications, to the potential for AI tools for managing the grid, to the possible breakthroughs in nuclear power that could be discovered using AI, the speakers explore a vast range of possibilities. Hussein Shel, chief technologist for AWS (Amazon Web Services), talks about both the opportunities and the challenges of the new types of AI. Zack Kass, a futurist who was formerly a senior executive at OpenAI, discusses the prospect of an age of “energy abundance” that could be unlocked by sophisticated AI. He argues that abundance, possibly provided by nuclear fusion power, will be the way that the world can meet the increased demand for power created by advanced AI systems. Quinn Nakayama, the senior director of Grid Research Innovation and Development at the California utility PG&E, talks about the practical decisions involved in adopting AI technologies in today’s utilities. Tom Deitrich, chief executive of Itron, a supplier of technologies for utilities and cities to manage energy, water and traffic, joins Ed to discuss the increasingly urgent need for more advanced technologies in grid management. And finally, Anthony Allard, the head of Hitachi Energy’s North American business, talks about what they have been hearing from their customers in terms of two critical issues in the industry: the progress of digitalization, and shortages of critical equipment in the supply chain. You can find us on most platforms: we’re @theenergygang. Subscribe to the show on Apple Podcasts or Spotify so you don’t miss the next one, out every second Tuesday. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
There are no two ways around it: 2023 was a difficult year for low-carbon energy investment, and 2024 has so far carried on in very much the same vein. Rising interest rates, fears around future energy policy, cost inflation in some sectors, and perhaps a correction to some earlier over-exuberance, have meant that shares in clean energy companies have generally under-performed the market. To take a couple of high-profile examples, Tesla shares have fallen about 55% from their peak in 2021, while Ørsted shares are down about 75%. Capital flows into climate-focused funds has also fallen sharply. Morningstar data suggested that climate-focused funds attracted about $38 billion of new investor money last year, down about 75% from 2021 levels. In the private markets, on the venture capital side, the flows into clean energy also seem to have fallen, if not quite as sharply. To examine the reasons why low-carbon energy investment is having a rough time of it at the moment, and explore some of the more positive indications in the outlook, host Ed Crooks and regular guest Amy Myers-Jaffe are joined this week by newcomer Dan Goldman, Co-Founder & Managing Partner of Clean Energy Ventures. They discuss the huge shortfall in terms of the investment needed to meet the goals of the Paris Agreement, and raise some ideas for closing the gap. And on the brighter side, they look at the healthy ecosystem of innovative companies working on new ideas that could solve the toughest problems in energy and climate. Mobilizing capital will be the key to tackling the threat of global warming. How can we make sure the money flows where it is needed? Plus, two specific ideas that could make big contributions to decarbonizing the energy system. Grid-enhancing technologies can help overcome transmission capacity bottlenecks that are obstacles to the deployment of renewable energy. Dan's firm Clean Energy Ventures has invested in a company called LineVision that has provides those technologies, and he and Amy explain why they are important. And finally, as the aviation industry continues to grapple with the best ways to cut emissions, Sustainable Aviation Fuel (SAF) is a popular potential solution. The gang discuss the potential of companies like OXCCU, which is backed by Clean Energy Ventures, and the fundamental scientific challenges inherent to producing e-fuels from hydrogen and carbon dioxide. Keep an eye out for an upcoming episode with an in-depth look at SAF and OXCCU, on our sister podcast The Interchange. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The US is the world’s largest exporter of liquefied natural gas (LNG), super-cooled to about -160 °C (or -260 °F) so it can be shipped in tankers. An investment boom means export capacity will soar over the next few years. But last month the Biden administration signaled it was putting the brakes on future growth, announcing a “pause” in new approvals for LNG plants to export to nations that don’t have a free trade agreement with the US. This decision is expected to stall future US LNG projects by preventing them accessing key global markets including the EU, China, Japan, and the UK. The pause could be an issue in November’s elections: former President Donald Trump has said he would immediately restart approvals if elected. On the show this week, Ed Crooks is joined by Melissa Lott, Director of Research at Columbia University’s Center on Global Energy Policy, and Emily Grubert, Associate Professor of sustainable energy policy at the University of Notre Dame, to discuss the implications of the pause for both the US and the global energy market. If the US is exporting less gas, what will that mean for buyers around the world? What will be the impact on global greenhouse gas emissions, and living standards in lower-income countries? And what are the Biden administration’s motivations in announcing the pause? The gang explore the issues. Also on the show, the fuel that could replace natural gas, at least for some uses: hydrogen. There has been a lot of excitement over hydrogen, especially over green hydrogen made by electrolysing water, which could in principle have zero carbon emissions. But how green is it really? The US Treasury and Internal Revenue Service (IRS) have had a go at answering that question, setting out practical rules for defining low-carbon hydrogen, so they can decide on eligibility for tax credits under the 2022 Inflation Reduction Act. Melissa, Emily and Ed debate whether these proposed rules make sense, and what they mean for the development of a low-carbon hydrogen industry in the US and around the world. THE ENERGY GANG IS PARTNERING WITH DISTRIBUTECH, THE PREMIER ANNUAL EVENT FOR ENERGY TRANSMISSION AND DISTRIBUTION. THIS YEAR IT’S IN ORLANDO, FLORIDA, FROM FEBRURARY 26TH. WE’LL BE RECORDING A SPECIAL EPISODE FROM THE EVENT, WHICH WILL BE OUT ON THURSDAY THE 29TH AS THE EVENT WRAPS UP. CLAIM 20% OFF YOUR REGISTRATION WITH THE CODE DTPART33. Articles referenced in this episode: www.energypolicy.columbia.edu/consequences-of-the-pause-for-us-lng http://www.energypolicy.columbia.edu/consequences-of-the-pause-for-us-lng www.energypolicy.columbia.edu/publications/advancing-corporate-procurement-zero-carbon-electricity-united-states-moving-re100-zc100/ http://www.energypolicy.columbia.edu/publications/advancing-corporate-procurement-zero-carbon-electricity-united-states-moving-re100-zc100/ iopscience.iop.org/article/10.1088/1748-9326/ac71ba/meta www.nytimes.com/2023/08/07/opinion/oil-fossil-fuels-clean-energy.html http://www.nytimes.com/2023/08/07/opinion/oil-fossil-fuels-clean-energy.html See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The World Economic Forum held its annual meeting in Davos, Switzerland, last week, bringing together leaders from business, finance, politics, academia and culture. Regular Energy Gang guest Dr Melissa Lott was there, talking about one of the meeting’s central themes: long-term strategies for the climate, nature and energy. On this week’s show, she shares with host Ed Crooks and guest Julio Friedmann – who’s chief scientist at the carbon management company Carbon Direct – what she learned there. The role of artificial intelligence was, inevitably, high on the agenda there, with some people arguing that it will turn out to be one of the most transformational innovations in human history. The world of energy is already being changed by AI, and the gang discuss how wide-reaching the effects could be. Julio recently co-authored a report titled the “Artificial Intelligence for Climate Change Mitigation Roadmap”, looking at all the different ways that AI could change supply and demand for energy and so have an impact on greenhouse gas emissions. The gang discussed this issue last year, when Ed took the sceptical view. He suggested the latest iterations of AI such as ChatGPT, known as large language models, could have huge implications for knowledge industries such as journalism or law, but were unlikely to make much difference to energy, which requires working with large volumes of particles, whether molecules or electrons. Julio disagrees, and he explains what he thinks are the important positive impacts that AI could have on energy and the climate, for example in managing complex systems such as road traffic and power grids, and in developing new materials. The gang then discuss some of the other questions that came up at Davos, and ask what these gatherings mean for the rest of the world. And finally, extreme weather in the US has again been in the headlines. Extreme cold gripped much of the country, and snow fell as far south as Mississippi and Louisiana. Has Texas learned the lessons from Winters Storm Uri in 2021, when blackouts lasted for days and hundreds died? How stable is the grid these days? And what are we learning about managing the risks created by climate change? For more information head to woodmac.com/podcasts. You can read Julio Friedmann’s report on AI here: https://www.icef.go.jp/roadmap/. https://www.icef.go.jp/roadmap/ See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Ed Crooks is joined by Amy Myers-Jaffe and Dr Melissa Lott to look ahead to 2024. They explore the people, places, and technologies that could have a big influence on energy this year. Amy kicks things off with a look ahead to the US elections in November. The results of that vote will have big impact on policy in the US, and there are several other elections coming up around the world that could also have significant consequences for energy. COP28 in Dubai may be only just behind us, but the world is already looking ahead to COP29, which will be held in Azerbaijan. With Brazil lined up for COP30 next year, that will make three consecutive UNFCCC COPs in large oil-producing countries. The gang discuss how that could shape the energy transition. Then there are the technologies to watch in 2024, including Melissa’s choice, enhanced geothermal power. Fervo Energy’s Project Red geothermal facility went online in December, marking a major milestone for an energy source with huge potential. As Melissa explains, there are not too many energy sources that can offer “clean firm power”: low-carbon generation that is available 24/7. Finally, the gang talk about their energy-related New Year’s resolutions, including one that has already been broken! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
As 2023 comes to a close, the Energy Gang reflects on the events and trends of 2023 that provided grounds for optimism about the transition to a lower-carbon world. On this week’s show, Ed Crooks is joined by Melissa Lott and Amy Myers-Jaffe as they share their reasons to be cheerful this holiday season. Ed chooses the precipitous drop in the cost of solar modules, making solar power ever more competitive against fossil fuels, and driving the adoption of solar energy on a global scale. Amy’s choice is the continued growth of EV sales. Despite all the negative commentary about electric vehicles in recent months, and some genuine setbacks for the industry, the long-term outlook still looks bright. Finally, Melissa chooses another important development in 2023: the start of construction for Form Energy’s new factory in West Virginia to make batteries for long-duration energy storage. The batteries use iron-air technology, an example of several advances in battery chemistry that are offering solutions to the problems associated with lithium ion storage. We wrap the show with the gang trying a not-so-secret Secret Santa, exchanging gifts for the festive season. We hope the show will lift your spirits and put you in the frame of mind to enjoy the holidays. Thanks to everyone who listened during the year. We look forward to seeing you again in 2024. As usual we are keen to hear thoughts and comments. You can find us on most platforms – we’re @theenergygang. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
FURTHER CONVERSATIONS FROM THIS YEAR’S SUMMIT. COP28 was the largest climate talks to date, with global industry leaders, governments, analysts, journalists and climate activists converging on Dubai for the summit. The Energy Gang's schedule was packed, and host Ed Crooks was joined by many interesting and influential people from the world of energy across 6 full days. In this episode, we bring you three new conversations that we couldn’t fit into the regular schedule. Kevin Kariuki is the Vice President for power, energy, climate and green growth at the African Development Bank. Laetitia De Marez is the Senior Program Director of the Climate Finance Access Network run by the thinktank RMI. Together they discuss ways to increase investment in cutting emissions and adapting to the impacts of climate change. Also, Ed explores a technology for reducing emissions with Mark Davis, the Chief Executive of Capterio, which works on solutions to stop gas being wasted by being burned off in flares. For our full COP28 coverage check out our other episodes and find out more at woodmac.com/podcasts See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
THE GANG ASSESS THE OUTCOME OF THE CLIMATE TALKS IN DUBAI. This year’s COP went to overtime, as countries argued over the wording of the concluding statement. They had to carry on the negotiations all through the night to do it, but finally they emerged with what was described as a “historic” agreement. For the first time, the need to accelerate the transition away from fossil fuels has been put on the record in a concluding statement from a COP. In our final show on COP28, the Energy Gang look back on the last two weeks of negotiations and debates, and as the dust starts to clear, they assess what it all means. Ed Crooks was present at the talks in Dubai, as were regular guests Dr Melissa Lott of Columbia University and Amy Harder of Cipher, and together they tackle one key question: can we call the conference a success? Some people have been hailing it as a triumph, others say it’s a disaster. Does the truth perhaps lie somewhere in the middle? Or is it not that simple? The Global Stocktake of climate action, agreed at COP28, calls for a “just, orderly and equitable” transition, “accelerating action in this critical decade, so as to achieve net zero by 2050”. Amy and Melissa explain what that means, and how it could change the world. Find all of our coverage of COP28 at http://www.woodmac.com/podcasts/the-energy-gang See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
NUCLEAR ENERGY HAS BEEN IN THE HEADLINES MORE IN DUBAI, THAN AT ANY PREVIOUS COP. Nuclear power has had more prominence at this year’s climate talks than at any previous COP. In fact, some people have even been calling it “the nuclear COP”. That’s partly because the hosts, the United Arab Emirates, have been a pioneer of nuclear power in the Gulf region, building four reactors to meet 25 per cent of its electricity demand. At this year’s COP, 24 governments set a goal to triple worldwide nuclear power generation capacity by 2050. To discuss the implications of this pledge, and analyse the current state of the nuclear industry globally, Ed Crooks is joined by Henri Paillere, who is head of the planning and economic studies section at the International Atomic Agency. He says there is now a much wider appreciation of the central role that nuclear power can play in tackling climate change. Nuclear technology is also seen as offering some big commercial opportunities. The EX-IM Bank, the US export – import bank, recently launched a package of measures intended to support sales of US Small Modular reactors – SMRs. Reta Lewis, chair of the Ex-Im bank came to the COP and spoke to the Energy Gang, to highlight the bank’s support for SMR investment around the world. SMRs are expected to play a key role in the future of nuclear energy, as Dr Sama Bilbao y Leon, who is the director-general of the World Nuclear Association, which represents the international nuclear industry, said when she joined Ed in the studio. We’ll be following the latest developments from COP28 right to the end of the summit, so subscribe and join the conversation – we’re @theenergygang. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
ON DAY 9 OF THE CLIMATE TALKS, WHAT DO THE EXPERTS THINK? As Simon Stiell, Executive Secretary of the UNFCC, said today, it’s go-time for governments at COP28 this week. To examine the latest stories Ed Crooks has assembled a panel of energy experts: regular Energy Gang guest Melissa Lott, who is Director of Columbia University’s Center on Global Energy Policy, Morgan Bazilion, Director of the Payne Institute for Public Policy and professor of public policy at the Colorado School of Mines, and Julio Friedmann, Non-Resident Fellow at the Center on Global Energy Policy and CEO of Carbon Wrangler. Together they debate the efficacy of an annual climate summit, the potential impacts of next year’s US and UK elections on global climate and energy policy and the latest key takeaways from the talks. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
AN INTERVIEW WITH KRISTEN SIEMEN FROM GENERAL MOTORS On this bonus episode recorded live from COP28, Ed Crooks meets Kristen Siemen, Chief Sustainability Officer at General Motors. She sits down with Ed to discuss the current state of the EV market, GM’s plans for the industry and the key takeaways from the conversations at the summit. Subscribe to the show on your podcast platform of choice so you don’t miss any of these special episodes coming live from COP28 https://www.woodmac.com/market-insights/topics/cop28/, and join the conversation on social media: we’re @theenergygang https://twitter.com/theenergygang?lang=en. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
WHAT ARE THE BARRIERS TO CHEAP GREEN HYDROGEN? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
AT THE HALFWAY POINT OF COP28 THE FOCUS IS STILL ON FOSSIL FUEL ABATEMENT. Ed Crooks is joined by Dr Melissa Lott, Director of Research at Columbia University’s Center on Global Energy Policy and Professor at the Climate School, and Michael Webber, the McKetta Centennial Energy Chair at the University of Texas. Together they examine the biggest themes that are dominating debate at COP28. The arguments and discussions are still going on, but as Melissa says, they’re not at the core of what’s happening at this year’s summit. The planning for a clean energy future is the key focus for a diverse collection of energy leaders and global citizens. Phase out vs phase down is still the big topic, and the team give their take on the future of fossil fuels. The pledge to triple renewable energy generation is also put under the microscope. What does it mean for financing in the energy transition? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
At the halfway point of this year’s climate negotiations at COP28, the focus is still on the proposal that the world’s governments should commit to phasing out fossil fuels. Discussion on the best way forward is still going on; fossil fuels are responsible for the majority of human-induced climate change, and so the world has to stop using them. But as concerns over energy security continue, some say that the debate should not be around fossil fuels v renewables, but rather low-emissions v high-emissions. Is CCUS the technology that will enable continued use of fossil fuels, or is our only option a world powered by 100% renewable and nuclear energy? To discuss this, and to analyze the biggest talking points of today’s talks, Ed is joined by Maria Mendiluce, CEO of the We Mean Business Coalition, which aims to mobilize and guide companies of all sizes on a path to net zero. Maria argues that a complete phase-out of fossil fuels is needed to get the world on course to limit global warming to 1.5 degees C. She wants the governments meeting at COP28 to agree on a commitment to achieve that. Kelly Sims Gallagher also joins the show. She’s the Dean of the Fletcher School at Tufts University, and has been following these climate negotiations since she attended COP2 in 1996. She explains what she expects from this year’s talks and where she thinks COP28 will come out on the future of fossil fuels. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
THE INSIGHT AND DEBATE FROM THE CLIMATE CO-LAB EVENT AT COP28 In 2009, developed countries jointly pledged to mobilise $100bn per annum to support climate action in developing countries. This target has never been met and the pledge will expire in 2025. It is estimated that approximately $5 trillion is required annually, just to avoid the worst impacts of climate change. The New Collective Quantified Goal (NCQG) intended to replace this pledge, is currently under negotiation, due to be finalised by the end of 2024. A successful agreement will unlock the finance needed for mitigation, adaption and loss and damage funds. The Climate Co-Lab event, at the Heriot-Watt campus and in collaboration with Wood Mackenzie and Edinburgh Science, was hosted by Ed Crooks on day 5 of COP28. Joining him to explore climate finance were: Patricia Espinosa Cantellano, Former UNFCCC Executive Secretary, Former Minister of Foreign Affairs of Mexico, Ambassador Emeritus of Mexico, and CEO and Founding Partner of onepoint5. Mohamed Sultan, Regional Lead Africa, Global Methane Hub Nigel Topping CMG, UN Climate Change High-Level Champion at COP26, Member UK CCC, NED at UKIB Together they explore what fundamental changes in global systems need to occur to scale and deliver on decarbonization. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
PART ONE OF OUR COVERAGE LIVE FROM THE CONFERENCE Ed Crooks is joined by Amy Harder & Bill Spindle from Cipher, the publication supported by Breakthrough Energy – the clean energy network founded by Bill Gates. Amy and Bill have been in Dubai since the start of the conference, and they analyze the big stories to come out of the first few days. The loss and damage fund is the main focus; a few hundred million has been pledged to help developing nations deal with the impacts of climate change, but it’s a drop in the bucket for what’s needed. Also, COP28 itself: there’s debate on the effectiveness of these talks every year, but there have been positive stories already. The tripling of renewables, pledges on methane reduction and loss and damages have all been high on the agenda. Listen in as we kick off our special podcast series, live from Expo City in Dubai at COP28. Follow us on the socials – we’re @theenergygang See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
COP28, this year’s Conference of the Parties to the UN Framework Convention on Climate Change, started in Dubai on Thursday November 30. The Energy Gang will be there, bringing you all the latest news from the negotiations and explaining what it all means. As the climate talks get under way, Ed Crooks sits down in New York with Energy Gang regulars Dr Melissa Lott and Amy Myers-Jaffe to look ahead to the talks. On the show today, they explore the four key items on the agenda: __ __ Subscribe to the show so you don’t miss the special bonus episodes coming daily from the 4-8th December, and join the conversation by finding us on X; we’re @theenergygang. For more information visit woodmac.com/podcasts. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Thanksgiving is a special time in America when families across the country get together and argue. In honor of that tradition, host Ed Crooks and regular Amy Myers-Jaffe are joined by Danny and Toby Rice, two brothers who have both had very successful careers in energy but have gone in somewhat different directions. Toby Rice is president and chief executive of EQT, the largest producer of natural gas in the US. He is an advocate for the benefits of exporting liquefied natural gas, and makes the case for its importance in strengthening energy security, creating jobs, and cutting greenhouse gas emissions. Danny Rice is chief executive of NET Power, which is developing utility-scale power plants with its proprietary technology that uses natural gas while capturing more than 97% of its emissions. With Ed and Amy, they debate the case for gas as a climate solution. Is gas really any better than coal when full life-cycle emissions are counted? And even if it can reduce emissions, how much good is that when what we need is not lower carbon but zero carbon? How much does the case for gas rely on carbon capture and storage, which has no clear path to large-scale deployment? Join us at the Energy Gang table for a Thanksgiving debate on family, energy, and what we should be thankful for. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The International Energy Agency last week published its World Energy Outlook, which is its big annual review of everything that is going on in the world of energy. One of the headlines that has been attracting a lot of attention is the forecast that, on current trends, demand for all three fossil fuels – that is, oil, gas and goal – will peak before 2030. The IEA’s report states that the pathway to limiting global warming to 1.5 degrees C, the objective the world set in the Paris Agreement, is still open. Although if we carry on as we are, by 2030 it won’t be. Joining Ed Crooks to discuss the IEA’s views and progress in the transition away from fossil fuels are Dr Melissa Lott and Amy Myers-Jaffe. Regular Energy Gang guests, Melissa is Director of Columbia University’s Center on Global Energy Policy. Amy heads up NYU’s Energy, Climate Justice and Sustainability Lab. They debate whether this decade might witness the arrival of peak fossil fuel demand. What are the forecasts saying, and are they believable? The gang weigh up the recent tide of bad news about electric vehicles. Should we be preparing for an abrupt turn away from EVs? What could it mean for oil demand if it happened? And how should we interpret the two recent mega-deals in the US oil industry? Plus: offshore wind is in trouble. Rising interest rates and supply chain issues are driving up costs, and big projects in the US are being cancelled. Can the industry find a way out of its predicament? And finally, China’s share of global production of spherical graphite, used in battery anodes, is over 99%, putting it in a strong position in global supply chains. Now China has announced new export restrictions on several forms of graphite, raising questions about whether a new vulnerability has been exposed for US and European battery and EV manufacturers. It’s a packed show, and as always we are keen to hear your thoughts and comments. You can find us on most platforms as @theenergygang. Subscribe to the show so you don’t miss the next one, out every second Friday at 7am ET. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
This week marks 50 years, almost to the day, since the 1973 OPEC oil embargo on the US, which led to global oil prices soaring. Oil’s potential role as a political weapon was thrown into sharp relief, and the world woke up to a new awareness of the vital importance of energy security. On the Energy Gang this week, Ed Crooks hosts Robbie Orvis and Amy Myers Jaffe, to explore the parallels between that first great oil shock and the economic and political issues arising from the conflict in the Middle East today. Robbie is Senior Director of Modeling and Analysis at the think-tank Energy Innovation, and Amy is Director of NYU’s Energy, Climate Justice and Sustainability Lab. Together they discuss the implications for energy security in the US, and around the world, of the fighting that began with the Hamas terrorist attack on Israel. This month US oil production has hit a new all-time record high, at 13.2 million barrels a day. This surge in production means the US will be a net exporter of crude and oil products this year, to the tune of almost 2 million barrels a day. That sounds like it should help US energy security, but does it really? Despite surging production, US consumers remain vulnerable to fluctuations in fuel prices. Reducing oil consumption, as the gang discuss, could be the best way to strengthen energy security. Electric vehicles play a critical role in helping to break our addiction to oil. There have been some big changes in that industry this year, with most leading auto-makers, including Hyundai, Kia, Ford, GM, and others, adopting the North American Charging Standard developed by Tesla. That is a big win for Elon Musk, but more importantly it’s a big win for customers, who won’t have to worry about getting an EV with the right connection ports to find public chargers. It’s like Lightning cables versus USB-C, but with much more at stake. Finally, we look once again at the ever-evolving hydrogen sector. The Biden administration last week announced the seven Hydrogen Hubs selected to share $7 billion in government funding to accelerate the domestic market for clean hydrogen. The hubs are spread around the country, from the Pacific Northwest to south Texas, and are intended to catalyse more than $40 billion of private sector investment. The idea behind the hubs is that developing the industry in a few locations will make it easier to share infrastructure and a skilled workforce, helping to bring costs down faster. But questions still remain about how big a role hydrogen can play in the energy transition. It’s a packed show, and as usual we are keen to hear thoughts and comments. You can find us on most platforms – we’re @theenergygang. Subscribe to the show so you don’t miss the next one, out every second Friday at 7am ET. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The International Energy Agency last month held its first ever summit to discuss Critical Minerals and Clean Energy. It was attended by more than 50 countries, which came together to discuss ways to secure the critical minerals that are needed to make the transition to low-carbon energy. Whether it’s copper wiring in electricity systems, or steel in a wind turbine, or lithium in an EV battery, metals are vital for low-carbon technologies, and demand is only going to increase over the next decade. New mines for these metals can take a long time to ring into production, raising fears about whether supplies can keep up. One solution to this problem that’s been getting a lot of attention recently is sea-bed mining. It is a potentially significant new source of supply for some of these critical metals, but it’s also highly controversial because of the damage it could do to deep water ocean ecosystems. On the Energy Gang this week, Ed Crooks is back in the host’s chair, and joined by regular Amy Harder, Executive Editor of Cipher Magazine, the publication supported by Breakthrough Energy. Amy recently interviewed the Prime Minister of Norway, Jonas Gahr Støre, in New York, and she details the main takeaways from that conversation on the show today. Some Norwegian lawmakers have called for a 10-year delay to the country’s plans to allow deep sea mining plans, so that the environmental impacts can be studied. Dr Melissa Lott, Director of Columbia University’s Center On Global Energy Policy, is also on the show, and she outlines some of those environmental impacts are. The demand for critical minerals could necessitate offshore mining, but it is not the only possible option. Recycling can be another source of increased supply. A study from the International Council on Clean Transportation said that at the end of last year, US plants had the capacity to produce about 100,000 tons a year of recycled battery materials. Total capacity for proposed new plants that have been announced is about 650,000 tons a year. Even that is still only enough for about 1.3 million EVs a year, which might be roughly the number that will be sold in the US this year. So as the market grows, we are going to need more. Plus, the IEA published a report last week called the ‘Net Zero Roadmap’, which was said the road was still open to limit warming to 1.5 degrees Celsius. But is it really feasible? Is it time to call it, admit that that goal is out of reach, and concentrate on a more achievable target? Could carbon capture now be our only hope of reaching that goal? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
HOST ED CROOKS BRINGS YOU THE SECOND OF TWO SPECIAL EPISODES RECORDED LIVE FROM WOOD MACKENZIE’S HYDROGEN CONFERENCE. In the rapidly changing energy landscape, hydrogen has become a hot topic. For some, it represents a beacon of potential for meeting global net-zero ambitions. For others, it is a costly and ineffective blind alley. As the clean energy transition advances, hydrogen has seen a surge in interest and investment around the world. This episode delves into different facets of the hydrogen revolution, examining its transformative potential from various perspectives. The episode starts off with Will Lochhead, Deputy Director and Head of Hydrogen Production and Storage Business Models at the UK government’s Department For Energy Security and Net Zero. The UK government has firmly set its sight on reducing uncertainties and mitigating risks associated with the hydrogen economy, to open up new opportunities for potential market participants. The British government has set an ambition of reaching up to 10 gigawatts of low carbon hydrogen production capacity by 2030. Will Lochhead discusses a key tool for achieving that goal: the Low Carbon Hydrogen Agreement, the contract designed to underpin hydrogen production business models. One promising use for low-carbon hydrogen, that could play an important role in the energy transition, is for making low-carbon ammonia. Today, ammonia is predominantly used in the production of fertilizers. In the future, we might see a more wider use of low-carbon ammonia, expanding into power generation and industrial processes. A leading producer of ammonia, OCI Global, is pioneering sustainable ammonia production, viewing it as a viable solution in the decarbonisation journey. With projects around the world, OCI sees the potential for low-carbon ammonia as a versatile product: a fuel for sectors including power and shipping, and potentially as a vector for transporting hydrogen around the world. Akshay Bhardwaj, head of commercial business development for global ammonia at OCI Global, joins us to discuss the potential transformation of the industry. Low-carbon ammonia could also play a role in cutting emissions from agriculture. Laura Cross, Director of Market Intelligence at the International Fertiliser Association, shares insights on the key issues in the industry, including the cost implications. The industry faces some significant challenge in building a substantial market for low-carbon fertilisers. Lastly we hear from David Burns, Vice President of Clean Energy at Linde, on how hydrogen and carbon capture fit together. He argues that as we strive for a net-zero future, long-term decisions must strike a balance between today's capabilities and future technology developments. “Blue” hydrogen, while not entirely emissions-free, is cost-effective, easily scalable, and plays a key role in most current large-scale low-carbon projects. By contrast, “green” hydrogen, while producing minimal emissions, faces significant challenges in terms of cost, scalability, and technological readiness. Betting only on green hydrogen and ignoring the potential of blue could mean missing out on substantial opportunities to cut emissions in the shorter term. So what’s the answer? Follow the conversation on X, the platform we know as Twitter – we’re @theenergygang. And subscribe to the show so you don’t miss an episode. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
HOST ED CROOKS BRINGS YOU THE FIRST OF TWO SPECIAL EPISODES RECORDED LIVE FROM WOOD MACKENZIE’S HYDROGEN CONFERENCE Industry leaders and energy analysts gathered recently for the second annual hydrogen conference hosted by Wood Mackenzie, where they dissected the potential of hydrogen in the energy mix. Join host Ed Crooks in the first of two special episodes from the conference, with part two coming out tomorrow. The conference presented an opportunistic forum to discuss how hydrogen, with all its potential and challenges, can shape the course of a decarbonized energy industry. Hydrogen, once considered the energy of the future, has finally claimed its position in the present reality of decarbonized energy systems. Fuelling the global discourse on climate change, the conversation has shifted to the pivotal role that hydrogen and renewable energy solutions can play in the clean energy transition. Andy Lane, the Vice President of Hydrogen and Carbon capture in the UK for BP, spoke on a panel and emphasized the influence of China on the future of the renewable energy industry. Lane argued that China's ability to generate solar power and produce electrolyzers at a cheaper rate than most countries could instigate healthy competition that benefits everyone. He also highlighted that the renewable energy industry should not approach the global supply chain with a defensive mindset but rather learn to work effectively within it. However, Lane raised concerns about the potential threat this presents to European businesses, despite the overall positive impact on global warming reduction. What about those in the US? What impact is the IRA having? Rick Beuttel from Bloom Energy and Mona Bagat of KBR Consulting talk about the government incentives, the US’ place in the low-carbon hydrogen race as well as the costs when it comes to Green and Blue Hydrogen production. This conference also provided an insight into technology leaders navigating the challenges of a rapidly evolving energy market. Ines Kraft from the German electrolyzer company, Sunfire, explained how they recently installed the world's first multi-megawatt high-temperature electrolyzer for green hydrogen production. The ongoing transformation of the energy industry - and the shift towards hydrogen as an essential part of that change - presents both challenges and opportunities for energy companies around the globe. The rising prominence of hydrogen will require concerted efforts to surmount obstacles related to costs, regulations, and infrastructure. Finally, we wrap up part 1 from the conference with Andre Pina from EDP Renewables discussing opportunities for an international market in hydrogen and its derivatives traded around the world. Don’t forget part 2 from the conference is out tomorrow, subscribe so you don’t miss an episode! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
WHAT’S NEXT FOR US ENERGY POLICY? As part of Climate Week in New York, The Energy Gang recorded a special edition in partnership with New York University: an expert panel discussing the future direction of US climate policy and its implications for the energy transition. Amy Myers Jaffe, a regular contributor to The Energy Gang and director of the Energy, Climate, Justice, and Sustainability Lab at NYU, hosted the event, leading a conversation about the key steps that governments, regulators and companies need to take to pave the way to a low-carbon future. Joining her for the discussion were Ana Unruh Cohen, the senior Director for NEPA Clean Energy and Infrastructure at the White House Council on Environmental Quality; Elizabeth Gore, the senior vice president of political affairs at the Environmental Defense Fund; and Rob Gramlich, founder and president of Grid Strategies, LLC. The vital need to strengthen the US power grid was one of the key topics. As Rob Gramlich explains, it is about more than just funding: regulation and policy support are critical, too. The new rule on transmission planning and cost allocation proposed by FERC – the Federal Energy Regulatory Commission – is seen as an essential component of an energy policy suited for the new world of low-carbon power supply. The need for efficient and transparent permitting of new infrastructure projects was also highlighted in the discussion. Building a low-carbon energy system requires massive investment in infrastructure such as power lines and wind farms. The harder it is to get those projects built, the slower the transition to low-carbon energy will be. The panel discuss some of the key issues involved in securing approvals for projects, including the Permitting Action Plan of 2021, the updates to regulations implementing the National Environmental Policy Act (NEPA), and infrastructure buildouts' community benefits. Towards the end of the discussion, the panel shifts its focus towards hydrogen. Is it truly the next frontier for climate solutions, or is it a mere distraction? The US already produces about 10 million metric tons of hydrogen annually, with high carbon emissions, for industrial use. But there is mixed opinion about the potential for much more extensive use of low-carbon hydrogen as a way to cut emissions in sectors where it is not currently used, such as steel-making and power generation. As research and development continues, hydrogen looks set to remain a contentious topic in climate and energy debates in the future. Follow the conversation on X – we’re @theenergygang. https://urldefense.com/v3/__https:/twitter.com/theenergygang?lang=en__;!!CAFLEWIB!Al48sMJfxTCLJlGiFtABLKxvy-o0Ij4LatwhO3zuWOB3tk2HViGzULXMw54rdA0E1YWpQYk1pcyhRLj6j0gXqagp$ And subscribe to the show so you don’t miss an episode. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
DIRECT AIR CAPTURE AND CARBON SEQUESTRATION – IS IT VIABLE, AND SCALABLE? The U.S. Department of Energy announced in late August that it would be investing $1.2 billion in two direct air capture or DAC facilities. Direct air capture technology, which uses either chemical media (such as a liquid solvent or solid sorbents) or physical processes involving filters to remove C02 directly from the atmosphere. Carbon capture technologies - that capture CO2 at emissions point sources, like power plants or steel making - is also an area the DOE will be supporting for demonstration projects. Some environmentalists have sharply criticized the Biden administration for providing financial support for DAC and CCS technologies, arguing not only is the technology expensive and unproven, but that it serves as a false flag mechanism by the oil and gas industry to sanction them to continue emitting greenhouse gases. So should the government be investing billions in these technologies? Can CCS and DAC play a role in decarbonizing hard to abate sectors? To answer these questions and more, guest host Amy Myers-Jaffe steps in for regular host Ed Crooks to anchor the show this week. Amy is Director of NYU’s Energy, Climate Justice and Sustainability Lab. She’s enlisted two Energy Gang regulars and climate modelling experts to explore the world of carbon capture: Emily Grubert, Associate Professor of Sustainable Energy Policy at the Keough School of Global Affairs at the University of Notre Dame, and Robbie Orvis, Senior Director of Modelling and Analysis at the climate thinktank Energy Innovation. Emily explains the challenges and viability of direct air capture as a technology, while Robbie outlines the modelling that implicates the oil industry in pushing for carbon capture; is it to prolong the lifespan of fossil fuel technologies? It’s an episode packed with science and analysis, as well as an in-depth look the socio-political implications of initiatives such as DAC and CCS. There’s discussion around NIMBYism, and concern of local communities around the environmental impact of the projects proposed by the DOE. How currently available incentives are structured raises another issue — they incentivize the capture of maximum CO2 for sequestration but neglect to account for how much greenhouse gas is invested in the capture process. This invites operations that can produce large amounts of CO2 to do so as they can more easily remove it from flue gas streams due to higher concentrations resulting from the use of fossil fuels. The team wrap up the show by discussing the point that energy sectors we're dealing with – including cement, steel, and various chemical productions – are mostly old, often outdated. So, is it more feasible to create a billion-dollar investment to build CCS plants on the backends of these facilities, or to invest in newer, greener technologies and start afresh? As more sustainable methods become available, the relevance and usefulness of CCS must continually be re-evaluated. It’s all here on this week’s episode. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
It’s a little over a year since the US Inflation Reduction Act was passed into law. Solar was one of the main beneficiaries, thanks to an extension and expansion of the tax credits available to the industry. So why has the sector fallen out of favour with investors recently? August was a difficult month for the markets in general, but companies including First Solar, Sunrun, Sunpower and Sunnova (who have been featured on our sister podcast The Interchange) have had it particularly rough. To look into what’s going on, host Ed Crooks is joined by two of our regular finance and investment experts: Shanu Mathew, of Lazard Asset Management, and Amy Myers-Jaffe, of NYU’s Energy, Climate Justice and Sustainability Lab. Together, look at the residential and utility-scale solar markets and the investment going into them, the US perspective against a global investment backdrop, and the long-term prospects for solar. Also in this show: what went wrong at Proterra? Proterra was an electric bus and battery company championed by President Biden as an example of how the US could build a manufacturing base in cleantech, but it filed for bankruptcy in early August. What does its failure tell us about the future of electric vehicles? And how do these challenges facing two key sectors, solar and EVs, change our perceptions of the clean energy transition? Finally, ESG investing is in the spotlight again. Larry Fink, CEO of Blackrock – one of the world’s biggest asset management firms – said recently that he “doesn’t use the word ESG any more, because it’s been entirely weaponised...by the far left and weaponised by the far right.” Republican politicians in the US have attacked ESG as “a direct threat to the American economy, individual economic freedom, and our way of life.” Some statistics have suggested that interest in ESG investing has been waning from its high point in 2021. Amy says the capital is still flowing into clean energy, but investors need to “pick the right team, the right technology, the right management.” Shanu argues that the trends still support moves towards increased sustainability and the use of environmental, social and governance factors in investment decisions. ESG may not be a buzz-word any more, at least not in a positive sense. But the ideas that lie behind it can still be useful. Follow the conversation on X, the platform we know as Twitter – we’re @theenergygang. And subscribe to the show so you don’t miss an episode. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
