Thread by @Convertbond

*IEA WARNS WORLD ISN’T INVESTING ENOUGH FOR FUTURE ENERGY NEEDS - Bloomberg

Here is a look at the 2021-2041 “Demand”Picture:

+One billion human beings in China without an automobile.

+One billion human beings in India without air conditioning.

Last 30 years we have taken 7 million manufacturing jobs out of the US.

Bad News: Ghost towns litter the rust belt, Michigan, Wisconsin, Pennsylvania have been decimated. Opioid deaths up 1000%.

Good News: We lifted 500m people globally out of extreme poverty. Davos smiles.
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Unintended Consequences - Energy Consumption

In India, China those moving into the middle class from poverty, urbanization trends - consume 100x more electricity annually than the impoverished back in the country. Real GDP per capita trends are surging. .@Go_Rozen has the data.

Dirty Little Secret

If you look inside the net zero 2050 assumptions coming from the Davos crowd and the IEA, their denominator - emerging market per capita energy consumption growth - is the key to arriving carbon neutral by 2050. A slight miscalculation there, and it’s 2070-80

It’s a “colossal failure of common sense” to focus 99% of our attention on the supply part of the equation (fossil fuel production) and NOT take a hard, realistic, less Pollyannish view on DEMAND! Last 5-7 years, the entire conversation is on supply. Welcome to our energy crisis.