Citigroup: The Revolution Will Not Be Televised

[bananas]

http://safeenergy.org/2014/08/14/citigroup-the-revolution-will-not-be-televised/

Citigroup: The revolution will not be televised

Those hippies at Citigroup are at it again. In late March, they published a study asserting that 2014 was ushering in the “Age of Renewables” in the U.S. ...

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Now, stealing a line from Gil Scott-Heron, Citigroup has released a new study titled Global Energy 2020: The Revolution Will Not Be Televised as Disruptors Multiply. Actually, the report was released on July 28 to Citigroup’s megabucks investors; it’s just now that us regular members of the public get a chance to read it.

Much of the report is focused on oil and gas, both of which Citigroup approves of. Interestingly, however, Citigroup believes that gas will increasingly be diverted to transportation uses while renewables supplant both coal and gas generation.

The growth in gas demand for power generation could be less significant than is commonly believed. Gas is commonly thought of as the substitute fuel for coal in power generation once coal plants retire. But rising renewables generation should increasingly take over market shares of coal- and gas-fired generation, particularly in an environment of slow electricity demand growth.

As for nuclear, it is essentially dismissed in the report, apart from one section in which Citigroup says it expects many of Japan’s now-shutdown reactors to reopen within three years. But clearly Citigroup does not see nuclear power as a viable alternative to either renewables or natural gas

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The full Citigroup report can be downloaded here. https://ir.citi.com/ceUKTj9wAJSPHBmpGoRGfQYz1rZm8CKVCFO7wPNIGAzn7%2feoGJhCRKXBw2LnpF%2bmPt5wCNmiHIw%3d

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[merrily]

1. A friend used to head the library at Fidelity. I heard about some of their reports.

Suffice to say that not all the prognostications manifested. Turned out, the people preparing the reports did not have crystal balls, either. So, while I don't discount their predictions, I don't necessarily take them to the bank, either. Literally or figuratively.

[littlemissmartypants]

2. You got mad language composition skills. eom

[merrily]

3. I always enjoy your posts!