In this sixth-anniversary show, we welcome back energy researcher Jonathan Koomey to help us review some of the hot topics in energy transition over the past year.
Topics in this discussion include:
The energy elements of the bipartisan infrastructure bill that passed the Senate, and how they stack up against the actual infrastructure needs of the US.
Highlights from the new climate assessment report from the IPCC, and the disconnect between how that modeling framework is structured, and what policymakers and journalists really need. We also try to identify how climate scientists can be more helpful in communicating the path the world is currently on.
The case for and against divestment and other supply-side strategies to reduce the consumption of fossil fuels.
The zombie theory of ‘value deflation’ in solar, and why it’s mistaken.
Corruption in the nuclear industry, and why climate hawks must start getting more discerning about who they are backing in the struggle to take action on climate change.
The energy requirements of the Internet and Bitcoin mining.
A new tool to explore the EIA’s vast stores of data.
In the news segment, we review the ongoing efforts in Congress to electrify the US Postal Service vehicle fleet; we update two stories about corruption associated with the US nuclear industry; we hail the world’s first production of a batch of steel without using fossil fuels; we have a look at the world’s largest battery storage system; and we note a major blow to the credibility of “blue hydrogen.”
We have a very special guest for you in this episode: Jeremy Grantham, the legendary investor who co-founded GMO, a Boston-based institutional money management firm, more than 40 years ago. With more than $60 billion in assets under management, GMO has produced steady returns for its investors through market booms and busts, largely thanks to the steady hand of Grantham and his investing philosophy, which holds that sooner or later, most valuations return to the mean.
In this interview, we talked about Grantham’s investing philosophy; the history of investment bubbles; how he values investments; what’s happening in the markets as new retail traders using the Robinhood app and participating in Reddit-based trading groups drive stocks like Game Stop wild; what the Fed should do as the world recovers from the pandemic; his views on the massive expansion of the US national debt; how the world’s governments are responding to the challenge of climate change; the role of venture capital in energy transition; and his outlook for energy transition in general.
In this anniversary episode, we welcome back Jonathan Koomey to talk about some of the interesting developments and raucous debates we have seen over the past year. We’ll consider how expectations have changed for coal and gas-fired electricity generation; we’ll discuss the changed outlook for natural gas appliances; we’ll talk about the growing support for “just transition” strategies integrating climate and environmental justice objectives to ensure that energy transition leaves no one behind; we’ll summarize the latest developments in the ongoing debate over climate scenarios; we’ll discuss some of the new models around what an 80, 90, or 100% renewable energy system might look like; and we’ll review a slew of stories about corruption investigations into legacy energy companies, several of which we first covered two and three years ago.
As older coal and nuclear generators are pushed off the grid by cheaper, nimbler, cleaner renewables and other technologies, the owners of conventional generators are becoming increasingly nervous about their futures, and seeking new ways to protect their legacy assets. From attempting to change market rules or simply pursuing new subsidies, the effort to retire dirty and unwanted old generators and replace them with newer, cleaner sources of electricity faces a series of challenges. And how those challenges are resolved will have broad implications for how the electric grid of the future will operate, and who will own it.
In this episode we take a deep dive into the intersections between federal authority, wholesale markets, and state policies, explore some of the legal questions therein, and try to understand what they suggest about the process of energy transition, and the pathways for unlocking new ways of using energy and designing electricity markets…and yes, this episode definitely deserves its Geek Rating!