{"id":364248,"date":"2025-02-02T18:14:02","date_gmt":"2025-02-02T17:14:02","guid":{"rendered":"https:\/\/climatescience.press\/?p=364248"},"modified":"2025-02-02T18:14:05","modified_gmt":"2025-02-02T17:14:05","slug":"citigroup-trump-cant-stop-energy-transition","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=364248","title":{"rendered":"Citigroup: \u201cTrump Can\u2019t Stop Energy Transition\u201d!"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

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

From Watts Up With That?<\/a><\/p>\n\n\n\n

Guest \u201cThey\u2019re right, but for the wrong reason\u201d by\u00a0David Middleton<\/a><\/p>\n\n\n\n

\"\"
OilPrice.com<\/a><\/figcaption><\/figure>\n\n\n\n

Citigroup still has ESG analysts? That is\u00a0so<\/em><\/strong>\u00a02021. That said, they are correct. President Trump can\u2019t stop something that isn\u2019t happening. To the extent a \u201ctransition\u201d is occurring, it\u2019s from coal to natural gas. This is not really a transition. Both are carbon-based fossil fuels, with high energy densities; It\u2019s more of an energy clean-up, rather than a transition.<\/p>\n\n\n\n

\"\"
US EIA<\/a><\/figcaption><\/figure>\n\n\n\n

While coal may have surpassed renewables (wood) in the late 1800\u2019s, we never transitioned away from consuming wood for energy.<\/p>\n\n\n\n

\"\"
US EIA<\/a><\/figcaption><\/figure>\n\n\n\n

In 1949, there was no nuclear power generation and renewables were pretty well limited to hydroelectric and wood. From 1949 through 2023 US total energy production more than tripled. To the extent fossil fuels were displaced, it was mostly by nuclear power. Despite $gazillions of subsidies, the renewables share barely budged from 6% to 8%.<\/p>\n\n\n\n

Year<\/td>Fossil Fuels<\/td>Nuclear<\/td>Renewables<\/td>Energy Production<\/a> (quads)<\/td><\/tr>
1949<\/td>94%<\/td>0%<\/td>6%<\/td>30.61<\/td><\/tr>
2023<\/td>84%<\/td>8%<\/td>8%<\/td>102.78<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

This bit is hilarious:<\/p>\n\n\n\n

\n

The energy transition has progressed and is now more advanced compared to when President Trump entered the White House for the first time in 2017, according to the analysts.<\/p>\n\n\n\n

OilPrice.com<\/a><\/p>\n<\/blockquote>\n\n\n\n

Really?<\/p>\n\n\n\n

\"\"
US EIA<\/a><\/figcaption><\/figure>\n\n\n\n

I\u2019m not an ESG analyst, but I did minor in math back in the Pleistocene:<\/p>\n\n\n\n

Year<\/td>Fossil Fuels<\/td>Nuclear<\/td>Renewables<\/td>Energy Production<\/a> (quads)<\/td><\/tr>
2017<\/td>81%<\/td>10%<\/td>9%<\/td>84.36<\/td><\/tr>
2023<\/td>84%<\/td>8%<\/td>8%<\/td>102.78<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

The growth in US energy production since 2017 has been almost entirely driven by crude oil and natural gas.<\/p>\n\n\n\n

Energy Transition\u2026<\/h3>\n\n\n\n
\"\"
https:\/\/www.azquotes.com\/quote\/445662<\/a><\/figcaption><\/figure>\n\n\n\n

Fossil Fuels\u2026<\/h3>\n\n\n\n
\"\"
Life Expectancy:\u00a0Our World in Data<\/a>, Energy Consumption:\u00a0Bjorn Lomborg, 2020<\/a><\/figcaption><\/figure>\n\n\n\n

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

Citigroup still has ESG analysts? That is so 2021. That said, they are correct. President Trump can\u2019t stop something that isn\u2019t happening. To the extent a \u201ctransition\u201d is occurring, it\u2019s from coal to natural gas. This is not really a transition. Both are carbon-based fossil fuels, with high energy densities; It\u2019s more of an energy clean-up, rather than a transition.<\/p>\n","protected":false},"author":121246920,"featured_media":364262,"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":[691819325,691829718,691818618,691818229,691831255],"class_list":{"0":"post-364248","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-citigroup","9":"tag-energy-production","10":"tag-energy-transition","11":"tag-esg","12":"tag-us-president-donald-trump","14":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0-oil-and-gas.jpeg?fit=1564%2C1228&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1wKY","jetpack-related-posts":[{"id":256029,"url":"https:\/\/climatescience.press\/?p=256029","url_meta":{"origin":364248,"position":0},"title":"CFACT challenges ESG at BOA, CitiGroup shareholder meetings","author":"uwe.roland.gross","date":"05\/05\/2023","format":false,"excerpt":"As part of its Shareholder Accountability Project, CFACT attended the shareholder meetings of Bank of America and CitiGroup to act as a watchdog on the two large banking corporations.","rel":"","context":"In \"Bank of America\"","block_context":{"text":"Bank of America","link":"https:\/\/climatescience.press\/?tag=bank-of-america"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":266359,"url":"https:\/\/climatescience.press\/?p=266359","url_meta":{"origin":364248,"position":1},"title":"Are we Finally Heading Toward ESG sanity?","author":"uwe.roland.gross","date":"07\/09\/2023","format":false,"excerpt":"All this is good news. 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