The report used a range from 4.5 cents to 14 cents per kWh for the levelized cost of electricity from
fossil fuel sources.
Fossil fuel usage has been steadily growing across the world -- in America, it has risen by 25 percent since the 1970s.
The
fossil fuel industry does it, the "renewable"--actually, the "unreliable" --energy industry doesn't.
By burning oil, coal and gas (
fossil fuels), we spew carbon dioxide into the air.
From July 2014 to June 2017 the net subsidy to
fossil fuels is expected to be around $17.6 billion--and that's if the carbon price is retained.
The report assumes that rationality will prevail, and that at some point a limit will be imposed on the burning of
fossil fuels. In this new reality, the debt burden of the
fossil fuel companies becomes unsustainable and there is a financial meltdown that dwarfs 2008.
We call on all public bodies in Wales to develop truly ethical investment policies which do not include any
fossil fuel firms.
Removing money from these
fossil fuel firms now will also help safeguard the hard earned pensions of workers around Wales.
An estimated PS110m has been invested by the pension fund into the oil and gas sector into companies such as BP and Shell, many of which are linked with
fossil fuel extraction.
Meanwhile greater extraction costs for
fossil fuels will see ratios decline.
A group called Go Fossil Free helps students and colleges mount efforts to support divestment of
fossil fuel shares.
Global banks have upped their
fossil fuel investments since the Paris Agreement.
Speaking with the Nigerian Tribune on the role of
fossil fuel in global energy mix in near as demand for alternative clean energy like solar and electricity rises, Avuru stated that
fossil fuel will still be relevant up to year 2040.
