Monday, 21 April 2014

Daily Telegraph: "Global solar dominance in sight as science trumps fossil fuels"

Link to web site

"Solar power has won the global argument. Photovoltaic energy is already so cheap that it competes with oil, diesel and liquefied natural gas in much of Asia without subsidies.

"... For Britain it offers a reprieve after 20 years of energy drift. Yet the possibility of global energy deflation raises a quandry: should the country lock into more nuclear power stations with strike-prices fixed for 35 years? Should it spend £100bn on offshore wind when imported LNG might be cheaper long hence?

"For the world it portends a once-in-a-century upset of the geostrategic order. Sheikh Ahmed-Zaki Yamani, the veteran Saudi oil minister, saw the writing on the wall long ago. 'Thirty years from now there will be a huge amount of oil - and no buyers. Oil will be left in the ground. The Stone Age came to an end, not because we had a lack of stones, and the oil age will come to an end not because we have a lack of oil,' he told The Telegraph in 2000. Wise old owl.