Last year, investments in low-carbon energy hit $1.1 trillion—a record high and a major increase on the previous year. However, this record investment did nothing for the world’s energy security, it seems, because besides the record investments in renewables, 2022 was also a year that saw a major increase in oil, gas, and coal demand.
Not only that, but warnings multiplied about more fossil fuels investments that will be needed. Even the head of the International Energy Agency warned earlier this month that the oil market is facing…The Hidden Costs Of The Renewables Boom
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