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Page added on July 18, 2018
OPEC To Rule Oil Markets Till Peak Demand
More than a decade ago, China overtook the U.S. as the world’s biggest carbon dioxide emitter. Today, it’s going for a complete 360 with a hungry drive to beat the United States at the renewable energy game.
After all, this is largely a technology game, and China hopes to be the global technology leader, according to its strategic state plan by 2030. And in many ways, Beijing is winning the game.
China is now the largest investor in solar energy. In fact, according to the New York Times, the country is putting up new power generation projects so fast that substations that would connect them to the grid aren’t keeping pace.
Now, the solar freeways are the next gambit because they take the ‘farm’ out of solar and free up the land for agricultural use.
Led by a company called Pavenergy, in partnership with state-owned interstate construction firm Qilu Transportation, China is fast-tracking the country’s first solar highway in Jinan, the capital city of the eastern Shandong Province.
The plastic-covered solar panels cover a portion of highway that is two-thirds of a mile long and is designed to absorb the pressure of some 45,000 cars and trucks that traverse it daily.
And this patch of highway is close to an electricity substation, so it can be hooked up to the grid easily. It also runs through and around cities, so nothing is lost along the way. It’s all captured for power.
In the United States, the prospect of a solar highway is decidedly more complicated.
With the exception of a smattering of bridges and specific sections of some interstate highways, American roads just won’t cut it: They’re asphalt heavy and they give just enough for solar panels to snap, according to one transportation engineering professor from the University of Texas, cited by the New York Times. But Chinese roads generally have a heavy concrete foundation.
But it may be prohibitively expensive in either venue. It’s definitely more expensive than asphalt.
But it’s about production volume. In China’s case, Pavenergy is hoping it can bring the cost down to around $300 per square meter from the now-exorbitant $460 per square meter for a solar road. They also argue that they would have to be replaced less frequently than asphalt currently requires.
They also argue that it could eventually pay for itself by producing around $15 of electricity per square meter of solar panel—per year. That doesn’t sound like much, but a Chinese professor told NYT that it would mean that within 15 years it would pay for itself.
As we read about yet another way in which China is one-upping the United States on the technological battlefield, the war is not likely to be won through solar highways—one of the most complicated feats in renewable energy due to the cost of installation, questions about efficiency, and repairs.
But the pace of investment in renewables is still staggering.
The thing about China’s solar highway is this: Costs will come down once adoption becomes widespread, and the Chinese are the kings of forced, strategic adoption. In China, renewable energy gets invested and implemented before it makes any sense. In the United States, the reverse is true.
According to Bloomberg New Energy Finance, nearly half of the world’s new renewable energy investment of $279.8 billion last year came from China. Beijing’s investment in renewable energy (for everything except hydro projects) jumped 30 percent in 2017 from the previous year.
And it definitively outpaced U.S. investment by three times. In the U.S., investment in renewables even fell 6 percent in 2017, dropping to $40.5 billion.
(Click to enlarge)
The game is on, and the winner will be the one willing to spend loads of cash on projects, even when it’s not immediately economically viable.
By Damir Kaletovic for Oilprice.com
22 Comments on "OPEC To Rule Oil Markets Till Peak Demand"
print baby print on Wed, 18th Jul 2018 6:29 am
Peak demand . What peak demand I bought electric car but now I want to have airbus jumbo with jakuzi( If there is electric one of course i will by one too) in it and I want to travel all over the world . I want to have garage in it to take my ferari and lamborgini and of course I will bring with me my electric vehicle because I am environmentalist x 7billion people dream . So enough with stupid Idea of peak demand
Outcast_Searcher on Wed, 18th Jul 2018 9:25 am
print baby — as though wanting is the same thing as affording.
Sissyfuss on Wed, 18th Jul 2018 9:46 am
They would be going for a complete 180. A 360 brings them back where they started. Which unfortunately is where we all end up.
print baby print on Wed, 18th Jul 2018 10:52 am
cash can be printed endlessly it is not a problem . Print baby print
BobInget on Wed, 18th Jul 2018 11:01 am
OPEC is like Trump. Members care ONLY about
themselves, not the ‘cartel’ or trade group, take your pick.
Like Trump, almost every press release is fake.
Half the members are in steep decline. The other half already scraping the bottom of that barrel.
Either in political turmoil like Venezuela or trying, far too late, to convert away from a single crop, crude oil. Or, like KSA, both.
Go Speed Racer on Wed, 18th Jul 2018 12:30 pm
There is no Peak Demand.
Just another sick phrase from
the Globalists who own the lefty
Democrat mainstream media.
However there is “Peak Supply” but
they prefer to lie, to enact their
sinister Orchestrated agenda.
Try some real news, how about
“NewsWars” or “Townhall”.
MASTERMIND on Wed, 18th Jul 2018 2:26 pm
GSR
At least the lefty media tells the truth and you can fact check to prove that..the right media doesn’t even use real journalist and all studies show they are wear nearly all the fake news comes from..
peakyeast on Wed, 18th Jul 2018 4:24 pm
Attempt at carpooling in Sweden failed:
https://jyllands-posten.dk/#ia10759219;finans
This means that Drivenow and Car2go has failed.
Two factors are mentioned: High parking costs and few users.
Permavillage on Wed, 18th Jul 2018 8:07 pm
1 Almost all of the goods and services we use require oil at some stage of their manufacturing.
2 Population is growing each year more than 1%, needing an added energy each year: more goods and more services.
3 Economic growth is demanded by politicians and is more than 3% worldwide, needing an added energy each year: more goods and more services.
4 Conclusion: I can’t see how there could be a peak demand!
twocats on Wed, 18th Jul 2018 8:22 pm
“print baby — as though wanting is the same thing as affording.”
hahahah OS you are such an idiot i’m dying. his handle is literally print baby. as if the word “afford” means anything to such a person who understands monetary policy in the age of peak. but what he’s really pointing to is jevons paradox. which is barely even come into play yet for most of asia and africa. so we are only about 300 years from peak demand.
Makati1 on Wed, 18th Jul 2018 9:22 pm
“At least the lefty media tells the truth.”
Hahahahahahahahahaha! Best joke yet, MM.
Cloggie on Wed, 18th Jul 2018 9:39 pm
“Attempt at carpooling in Sweden failed:”
It fails everywhere, because:
– it still assumes private car ownership
– you have as a passenger to build a relationship with a car owner and that is too inflexibel
The shared autonomous car addresses both issues and promises a reduction of the per kilometer price by a factor or 4-10.
https://deepresource.wordpress.com/2017/05/16/by-2030-you-wont-own-a-car/
https://deepresource.wordpress.com/2018/05/26/autonomous-driving-with-volkswagen-moia/
MASTERMIND on Wed, 18th Jul 2018 10:13 pm
The idea that electric cars are lowering demand is ridiculous. Electric cars haven’t made a dent, just a small scratch in oil demand. Electric cars are only 0.2% of light-duty vehicles, and cost so much only the upper 5% can afford them, even with subsidies.
I suspect the peak oil demand idea is one more attempt by the wealthy and powerful to hide peak oil, because peak oil studies have shown that if peak oil were acknowledged, stock markets all over the world would crash since the economy would be shrinking from then on and debts couldn’t be repaid. Credit would freeze and dry up. Panic and social disorder would follow.
https://un-denial.com/2018/07/04/by-alice-friedemann-on-fake-peak-oil-demand/
MASTERMIND on Wed, 18th Jul 2018 10:27 pm
EU Electric-Car Sale Growth Sputters on Battery, Charging Limits
https://www.bloomberg.com/news/articles/2018-07-17/eu-electric-car-sale-growth-sputters-on-battery-charging-limits
MASTERMIND on Wed, 18th Jul 2018 10:32 pm
Trump says he holds Putin personally responsible for election meddling
https://www.reuters.com/article/us-usa-russia-summit-responsible/trump-says-he-holds-putin-personally-responsible-for-election-meddling-idUSKBN1K82W0?utm_campaign=trueAnthem:+Trending+Content&utm_content=5b4ff7d104d3015b5523e685&utm_medium=trueAnthem&utm_source=twitter
Looks like someone told Trump to change his tune…HAHA I knew he would come around to the deep state! they always do!
print baby print on Thu, 19th Jul 2018 4:21 am
Thats wright tc afford funny thing for people who own the presses
print baby print on Thu, 19th Jul 2018 4:57 am
and Tc yes it is something like Jevons Paradox but lets put it simple and short
print baby print on Thu, 19th Jul 2018 4:58 am
with a pinch of humor and sarcasm of course
twocats on Thu, 19th Jul 2018 7:13 am
pbp – keep up the good work – god’s work really. help is on the way!
BobInget on Thu, 19th Jul 2018 9:38 am
Like I wrote Wednesday, OPEC, ‘running on empty’.
SAUDI OPEC GOVERNOR SAYS DESPITE GLOBAL OIL MARKETS BEING WELL BALANCED IN Q3, THERE WILL STILL BE SUBSTANTIAL STOCK DRAWS DUE TO SEASONAL ROBUST DEMAND
http://www.livecharts.co.uk/MarketCharts/crude.php
How should I put this? Fing bullish for rich folks
who bot pipelines, E&P’s.
Terrible news for everyone who needs to drive to work, plant seeds, eats, breathes air.
There’s always solar and wind…..
print baby print on Thu, 19th Jul 2018 11:36 am
God is the only one who can clean up this mess
tahoe1780 on Thu, 19th Jul 2018 5:59 pm
How efficient are those electric highways in bumper-to-bumper traffic?