The war in Ukraine may have fast-tracked the position by 5 to 10 years. People are increasingly looking for alternatives, especially in Europe and around the world. Global capital expenditure on wind and solar assets grew from around $350 billion to nearly $500 billion last year.
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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