Full Title: Tenth Annual Energy Paper
Author(s): J.P. Morgan
Publisher(s): J.P. Morgan
Publication Date: June 29, 2020
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Stargazing. COVID lockdowns reduced global CO2 emissions to levels last seen over a decade ago. While this decline is temporary, there’s still a lesson to be learned: an unsustainable halt in economic activity and mobility was needed to make a material dent in global CO2 emissions. In our tenth annual Eye on the Market energy paper, we take a look at when and how renewable energy transitions might accomplish the same thing. A lot of ideas flicker in the distance, but few are capable of being scaled and substantially commercialized in the foreseeable future.
Topics in this year’s paper include limits from de-carbonizing the grid alone; de-carbonization of steel and other industrial products; political and physical renewable energy bottlenecks; the scope of utility-scale energy storage, reforestation, and carbon sequestration required to make a difference; the impact of ride-hailing on emissions, and the never-ending hope for a hydrogen economy. We also review the financial, political and environmental risks to US energy independence, and whether a supply shock or stranded asset risk is the primary reason for the lowest oil & gas valuations in 90 years. We conclude with an exhibit on Trump and the environment