6 Oct 2022
Decarbonisation: Energy Consumption
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
The World is planning to transition to Net Zero by 2050 but if we look back at the past 40 years the facts are telling a different story.
China and United States are the Worlds biggest fossil fuel consumers. China has increased fossil fuel consumption by 440% versus United States at 38% over the same period and the volumes consumed just continue to rise.
On the plus side China has increased renewable energy consumption by 30 times versus the United States which has only doubled but still fossil fuel consumption dominates.
Click for charts.
The fact is that transitioning to Net Zero by 2050 will require even more energy production volume than what is being produced today because developing nations energy needs are rapidly rising to be on par with developed nations.
We need a game changer and that game changer is nuclear fusion.
Fusion is the energy being generated by our Sun and if the human race is going to survive on this planet then we must create vast volumes of clean energy. This is coming.
At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.
