Energy consumption is linked direct to economic activity. According to Eurostat the most significant drop in European energy consumption – 5.8% – occurred in 2009 and is attributed by the agency “to a lower level of economic activity as a result of the global financial and economic crisis”, although in general the consumption of energy continues to grow […]
Renewables
When oil prices collapsed in 2014, many experts predicted bleak scenarios for renewable energy: cheap oil would make pushing on with expensive and less efficient wind farms and solar cells economically questionable. Other fossil fuels such as natural gas and coal, which were also becoming cheaper, would compete more strongly against renewables, it was thought. […]
There was a time when everybody laughed at Nicola Tesla with his electrical motor because nobody could believe in energy without oil. But even back then, the great inventor knew that hydrocarbons would not be around forever. In 50 years’ time, the world may have used up its last drops of oil. This is a […]