Goldman Sachs’ Michele Della Vigna joins CNBC’s Steve Sedgwick during the Carbonomics conference in London to discuss the carbon market, the need for faster energy transition and the factors driving energy under-investment.
Goldman Sachs: Energy industry has been under-investing for past 8 years
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If i would’ve been in the energy sector i would be sitting dormant until the industry is able to adopt nuclear. A nuclear powerplant makes wind turbines look like outdated scrap metal. Any company heavily investing in solar or wind power will get wacked because of the low prices nuclear would bring.
Sorry; but as a long-time advocate for advanced nuclear, I gotta give you a Down Arrow. Your implication – essentially repeating the mantra from the 1950s that nuclear would be ‘too cheap to meter’ is simply wrong. Like everything, it DOES have its own issues. Waste is one of them; and keep in mind, nuclear DOES add to global warming – just not large-scale CO2 emissions. Nuke power plants are large scale heat engines- pumping huge amounts of heat into the biosphere THAT WOULD NOT OTHERWISE BE THERE. Plus, they need cooling…and as the Europeans have found out in recent years, as river waters warm up and droughts get worse, they have to scale back their nuke operations because of lack of cooling water, ok? We need all hands on deck; INCLUDING renewables, which do NOT add to global warming (essentially); and some industries, like aviation, especially need green hydrogen, etc. – Dave Huntsman
@Dave Huntsman You made some great points, I’ve never thought of it that way
Idiot host suggests it’s archaic to have market forces deliver successful results and completely ignores the analysis that it’s corrupting government regulations causing the problem! If i didn’t see and hear it, I wouldn’t believe the media could be so perversely corrupted..