{"id":336520,"date":"2024-07-15T12:33:38","date_gmt":"2024-07-15T10:33:38","guid":{"rendered":"https:\/\/climatescience.press\/?p=336520"},"modified":"2024-07-15T12:33:41","modified_gmt":"2024-07-15T10:33:41","slug":"aep-does-not-understand-energy-markets","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=336520","title":{"rendered":"AEP Does Not Understand Energy\u00a0Markets"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From NOT A LOT OF PEOPLE KNOW THAT <\/a><\/p>\n\n\n\n

By Paul Homewood<\/p>\n\n\n\n

\"\"
https:\/\/www.telegraph.co.uk\/business\/2016\/11\/08\/defiant-opec-bets-on-fossil-hegemony-deep-into-the-21st-century\/<\/a><\/figcaption><\/figure>\n\n\n\n

AEP\u2019s regular claims that oil and gas assets will soon be stranded are based on the assumption that governments around the world will mandate the end of fossil fuels. But where is the actual evidence for this?<\/p>\n\n\n\n

I am not even going to attempt to guess what might happen in thirty years time, because the world by then will be a much different place. In any event, that is of concern to oil companies now either, because they will be looking to bank their profits long before then. Discounting of capital means that any revenues in 2050 will be of little value anyway.<\/p>\n\n\n\n

And we surely do have a pretty good idea about might happen in the next decade or so, given how slow economies are to change. So what does that scenario tell us about trends in oil and gas demand?<\/p>\n\n\n\n

In the UK, AEP may be surprised to learn, even the official government projections<\/a> state that oil and gas consumption will only have dropped by 16% and 4% respectively by 2040, compared to now. These projections are based on \u201cexisting and planned policies\u201d, including nearly doubling renewable capacity, the ban on new ICE cars and phasing out of gas boilers after 2035.<\/p>\n\n\n\n

And if we look globally, we can see that increasing demand for oil and gas in non-OECD countries is likely to dwarf any reductions in OECD ones.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

BP Energy Review<\/em><\/strong><\/p>\n\n\n\n

Which begs the question, what will the non-OECD countries do?<\/p>\n\n\n\n

Does anybody seriously expect them to give up fossil fuels, particularly when AEP\u2019s supposed glut will make them cheaper than ever?<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

AEP\u2019s regular claims that oil and gas assets will soon be stranded are based on the assumption that governments around the world will mandate the end of fossil fuels. But where is the actual evidence for this?<\/p>\n","protected":false},"author":121246920,"featured_media":336525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691821569,691818228,691819148],"class_list":{"0":"post-336520","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-aep","9":"tag-fossil-fuels","10":"tag-oil-and-gas","12":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/07\/0fossilfuelsu.jpg?fit=1920%2C1249&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1pxK","jetpack-related-posts":[{"id":364240,"url":"https:\/\/climatescience.press\/?p=364240","url_meta":{"origin":336520,"position":0},"title":"AEP\u2019s Latest Renewable\u00a0Fantasy","author":"uwe.roland.gross","date":"02\/02\/2025","format":false,"excerpt":"If green energy is the future, as he claims, then obviously there is no need for renewable subsidies, mandates, bans or all of the other laws and regulations being applied to enforce Net Zero","rel":"","context":"In \"DESNZ\"","block_context":{"text":"DESNZ","link":"https:\/\/climatescience.press\/?tag=desnz"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/01_eExI3eXTbPwK-FhGrVqJmg.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/01_eExI3eXTbPwK-FhGrVqJmg.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/01_eExI3eXTbPwK-FhGrVqJmg.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/01_eExI3eXTbPwK-FhGrVqJmg.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/01_eExI3eXTbPwK-FhGrVqJmg.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":364470,"url":"https:\/\/climatescience.press\/?p=364470","url_meta":{"origin":336520,"position":1},"title":"What AEP Forgot to Tell You About\u00a0China","author":"uwe.roland.gross","date":"04\/02\/2025","format":false,"excerpt":"Maybe AEP would like to explain why China needs all this coal, now they have got all these super cheap solar panels!","rel":"","context":"In \"China\"","block_context":{"text":"China","link":"https:\/\/climatescience.press\/?tag=china"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0MI-CI044_CCOALl_M_20150226170626.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0MI-CI044_CCOALl_M_20150226170626.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0MI-CI044_CCOALl_M_20150226170626.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0MI-CI044_CCOALl_M_20150226170626.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0MI-CI044_CCOALl_M_20150226170626.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":432629,"url":"https:\/\/climatescience.press\/?p=432629","url_meta":{"origin":336520,"position":2},"title":"AEP Wants North Sea Oil & Gas\u00a0Now!","author":"uwe.roland.gross","date":"20\/03\/2026","format":false,"excerpt":"Poor AEP\u2019s head must be spinning. After years of condemning fossil fuels to the Net Zero bin, the chance of a global shortage has made him realise how much we need them!","rel":"","context":"In \"Energy\"","block_context":{"text":"Energy","link":"https:\/\/climatescience.press\/?tag=energy"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQNWq-Fgia9UO-GORg3L2bp-KFa-Tyyyv9kMj1VSeRASUSOsLqpNYRc-0arGeFi-E-8snWzu-2MIUPctCOSxXa6JYQCcD-Dq2FV_Sy_pWU7wFyMXNZ-BciaKdR66HUzS.jpeg?fit=1200%2C731&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQNWq-Fgia9UO-GORg3L2bp-KFa-Tyyyv9kMj1VSeRASUSOsLqpNYRc-0arGeFi-E-8snWzu-2MIUPctCOSxXa6JYQCcD-Dq2FV_Sy_pWU7wFyMXNZ-BciaKdR66HUzS.jpeg?fit=1200%2C731&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQNWq-Fgia9UO-GORg3L2bp-KFa-Tyyyv9kMj1VSeRASUSOsLqpNYRc-0arGeFi-E-8snWzu-2MIUPctCOSxXa6JYQCcD-Dq2FV_Sy_pWU7wFyMXNZ-BciaKdR66HUzS.jpeg?fit=1200%2C731&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQNWq-Fgia9UO-GORg3L2bp-KFa-Tyyyv9kMj1VSeRASUSOsLqpNYRc-0arGeFi-E-8snWzu-2MIUPctCOSxXa6JYQCcD-Dq2FV_Sy_pWU7wFyMXNZ-BciaKdR66HUzS.jpeg?fit=1200%2C731&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQNWq-Fgia9UO-GORg3L2bp-KFa-Tyyyv9kMj1VSeRASUSOsLqpNYRc-0arGeFi-E-8snWzu-2MIUPctCOSxXa6JYQCcD-Dq2FV_Sy_pWU7wFyMXNZ-BciaKdR66HUzS.jpeg?fit=1200%2C731&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":366309,"url":"https:\/\/climatescience.press\/?p=366309","url_meta":{"origin":336520,"position":3},"title":"BP set to scale back green\u00a0investments","author":"uwe.roland.gross","date":"16\/02\/2025","format":false,"excerpt":"Oil giant BP has said it will \"fundamentally reset\" its strategy as profits dropped sharply last year.","rel":"","context":"In \"BP\"","block_context":{"text":"BP","link":"https:\/\/climatescience.press\/?tag=bp"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":379987,"url":"https:\/\/climatescience.press\/?p=379987","url_meta":{"origin":336520,"position":4},"title":"AEP Ignores The Green Elephant In The\u00a0Room","author":"uwe.roland.gross","date":"26\/05\/2025","format":false,"excerpt":"AEP is getting ever more desperate to defend his green energy agenda. In his latest piece in the Telegraph, he tries to blame the blackouts in Spain on the Socialist Government, while ignoring the green elephant in the room.","rel":"","context":"In \"Ambrose Evans-Pritchard\"","block_context":{"text":"Ambrose Evans-Pritchard","link":"https:\/\/climatescience.press\/?tag=ambrose-evans-pritchard"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0ChatGPT-Image-26.-Mai-2025-10_22_17.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0ChatGPT-Image-26.-Mai-2025-10_22_17.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0ChatGPT-Image-26.-Mai-2025-10_22_17.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0ChatGPT-Image-26.-Mai-2025-10_22_17.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":397232,"url":"https:\/\/climatescience.press\/?p=397232","url_meta":{"origin":336520,"position":5},"title":"AEP U Turns On Net\u00a0Zero","author":"uwe.roland.gross","date":"23\/08\/2025","format":false,"excerpt":"The Energy Secretary\u2019s whole environmental strategy is misconceived, and he only has himself to blame.","rel":"","context":"In \"British Petroleum (BP)\"","block_context":{"text":"British Petroleum (BP)","link":"https:\/\/climatescience.press\/?tag=british-petroleum-bp"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0Net-Zero-City-Blackout.jpg?fit=1200%2C778&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0Net-Zero-City-Blackout.jpg?fit=1200%2C778&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0Net-Zero-City-Blackout.jpg?fit=1200%2C778&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0Net-Zero-City-Blackout.jpg?fit=1200%2C778&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0Net-Zero-City-Blackout.jpg?fit=1200%2C778&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/336520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=336520"}],"version-history":[{"count":3,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/336520\/revisions"}],"predecessor-version":[{"id":336526,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/336520\/revisions\/336526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/336525"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=336520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=336520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=336520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}