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Beyond Oil and Gas: Renewable Energy

Beyond Oil and Gas: Renewable Energy. David Toke May 8 th 2013. Source: BP Statistical Yearbook, compiled by Muhang Xiao. The big problem. Tragedy of the Commons?.

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Beyond Oil and Gas: Renewable Energy

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  1. Beyond Oil and Gas: Renewable Energy David Toke May 8th 2013

  2. Source: BP Statistical Yearbook, compiled by Muhang Xiao

  3. The big problem

  4. Tragedy of the Commons? ‘UK energy policy is effectively a massive long position on the oil price i.e. if the world does indeed face sky high oil prices in coming years then the policy will be seen to have worked. But even if this bet proves correct will we see much benefit? The answer is probably not unless the rest of the world follows the UK’s lead’ (A P. Atherton, Crisis in UK Energy Policy Looks Inevitable, Liberum 2013, 9)

  5. Nuclear Power? • Barely maintaining world capacity • Cost declines never materialise • Unfinanceable without ‘blank cheque’ approach

  6. Onshore and Offshore

  7. Declining price

  8. Can Scotland deliver? • Strong bargaining by SG • Planning limitations for onshore wind • Where will money for offshore come from? • Energy self-sufficiency for Scotland?

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