A seismic shift is occurring in the energy markets
Fascinating read in the FT about the seismic shift underway in the energy markets.
It starts with a tale about the unfortunate UK inventor Adam Robson who, having spent years perfecting a device which allows more efficient internal combustion engines, took it to market only to be told by the big car makers that R&D on petrol and diesel engine cars was shrinking. The budgets are being directed towards EVs and this meant there was no market for Adam’s product.
This article goes on to describe just how fast the shift away from hydrocarbons is happening. It covers the removal of subsidies - at a time when subsidies for nuclear and gas and oil are rising - and how the majority of new electricity generation capacity is now from wind and solar.
Compelling reading for anyone relying on a pension stuffed with big oil shares..
Read more at the FT.