In July 2011, 4RG carried a commentary on The Great Disruption, a book by Paul Gildings. The message was simple:
In one sense our problem is not climate change, but the delusion that we can have infinite quantitative economic growth supported by fossil fuel energy. Fossil fuel energy has two large problems: it is a finite resource where the costs are extraction are mounting rapidly, and it is the source behind ever increasing CO2 emissions to the atmosphere.
Gildings is writing a second book on the inevitable decline of fossil fuels and in the meantime has written a short column with many warnings and prophecies about the future.
Here are some of his more insightful predictions:
- “Renewables and associated storage, transport and digital technologies are so rapidly disrupting whole industries’ business models they are pushing the fossil fuel industry towards inevitable collapse.”
- “. . . the utility sector now faces a “death spiral . . .”
- “. . . all this brings increasing recognition by investors that the carbon bubble and stranded assets are serious financial risks.”
- “. . . the game is up for fossil fuels. Their decline is well underway and it won’t be a gentle one. . . “
Follow this link for Gildings entire column – “Carbon Crash – Solar Dawn”.