Redefining Energy 165. Our Predictions for 2025
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Jan 2, 2025 Michael Barnard, an energy transition expert, joins Gerard and Laurent to kick off the new year with bold predictions for 2025. They discuss the potential decline of U.S. oil production and falling oil prices, forecasting a dramatic shift in the energy landscape. Geopolitical tensions and supply chain stresses may spur innovative solutions. The team humorously reflects on the challenges facing hydrogen in transportation and predicts a record surge in solar and EV adoption. They also foresee the end of ESG-labeled financial products, sparking a lively debate.
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Western Automakers Struggle
- Stellantis is partnering with Chinese companies for EV production and batteries.
- German automakers saw significant profit declines, suggesting industry-wide challenges.
Politics and Energy Transition
- Despite political changes, 2024 was a record year for renewable energy installations.
- However, the focus may shift towards energy security, potentially impacting future growth.
Energy Oversupply
- Prices for fossil fuels and renewable energy components decreased significantly.
- Battery prices dropped below $50 per kilowatt-hour, exceeding expectations.