RE:RE:RE:RE:A useful Global Perspective on energy and emissions Oldnagger,
In response to your request about
"thoughts based on the graph on page 12 of Peyto's latest (AGM) presentation, I offer the following brief interpretation comments:
Note(Aside): This BB is, IMHO, not an appropriate forum to wrestle with the many huge issues involved in Climate Change actions or inactions, but clearly there is a contextual relevance to Peyto's business. - We need to be very careful in interpreting any picture which is based on "change" as distince from totals (in this case tonnes of millions of CO2)
- The overall depiction on page 12 shows world-wide change in CO2 emissions clearly operating in the wrong direction(growing) in the 2009 - 2019 timeframe, relative to "Climate Change Needs" as supported by researched scientific evidence.
- On the simple but very useful basis of trying to establish priorities using the 80:20 rule(80% impact on 20% of the total required effort) and in a simplistic or naive sense, change in China and India would jump-out as 80:20 type priorities, but many associated issue also jump-out
- Developing-World's legitimate needs for Increased Energy to underpin their development
- Current Power Generation plans, including very significant Coal and Nuclear generation in both of these countries.
- Rest of world benefitting from their use of products produced in these 2 countries, but not effectively accepting the CO2 production costs responsibilities, associated with the use/benefit of the products
- The label encouragement on the page 12 chart "Let's help these guys off coal" is a reasonable consideration
- Need for Liquification facilities and Port facilities to export NGL (Huge capital)
- Pipelines to get NGas to the ports(Permitting, etc. issues)
- It is more than just nice to see many countries, on the chart, moving in the right direction of change, but the rate of change is nowhere close to enough
- Remember also the role of Conservation(always starting with the individual) and sharing(difficult in a "me culture segment" or singular focus on quick financial gains
- A focus on CO2 seems unwisely narrow for achieving the overall Climate Change objective, when other significant climate pollutants such as methane(serious impact from our food chain), nitrous oxide, low-level ozone, hydrofluorocarbons, etc... contribute seriously to global warming in addition to longer-lived CO2.
A total world-wide approach is required and the Glasgow COP26 meeting last November was not very encouraging in terms of comprehensive or combined governments focus and commitments.
Our key interest here... Peyto NGas production can help, and can be made to help more through urgent export strategy, which will require lots of cooperatiuon and support at industry and multi- governments level,
Peace,
ElJ