From 2025, it looks like they're going to be falling at a pretty fast rate. Most of the models and projections I've seen through such changes make a 2-degree rise much more achievable. So on balance, this should all be viewed as good news for the energy transition. But there is an even bigger problem, which is that energy projects are becoming less attractive for investors.
The Belt and Road initiative to encircle much of the world with Chinese-funded, Chinese-built infrastructure is growing leaner and more penny-wise. But its ambitions are undimmed. Energy-market turmoil has given a boost to the green transition—a boost that has come with hard truths about the shift’s costs. And a television show about Jesus Christ becomes an unlikely hit.
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