ScienceRocks
Democrat all the way!
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Even at $10/barrel, oil can’t match solar on cost
And we all know that black crap is going to go up in price in the future! Solar can only get cheaper and will as far as we're concerned won't run out.
One of the biggest banks in the Middle East and the oil-rich Gulf countries says that fossil fuels can no longer compete with solar technologies on price, and says the vast bulk of the $US48 trillion needed to meet global power demand over the next two decades will come from renewables.
The report from the National Bank of Abu Dhabi says that while oil and gas has underpinned almost all energy investments until now, future investment will be almost entirely in renewable energy sources.
“Cost is no longer a reason not to proceed with renewables,” the 80-page NBAD report says. It says the most recent solar tender showed even at $10/barrel for oil, and $5/mmbtu for gas, solar is still a cheaper option.
And we all know that black crap is going to go up in price in the future! Solar can only get cheaper and will as far as we're concerned won't run out.