Power Map Decoding Energy Trends with Nat Bullard | Power Map
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Feb 26, 2025 Nat Bullard, co-founder of Halcyon and Managing Director of Business Climate, shares his expertise on the contrasting energy trends of 2024. He delves into the paradox of rising coal consumption alongside increased investments in energy transition. Bullard discusses the complexities of global energy dynamics, focusing on America's regional differences and China's dominance in auto manufacturing. He also highlights the importance of effective climate communication and local governance in advancing renewable energy solutions.
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2024: A Year of Contrasts
- 2024 showed contrasting trends: record coal consumption and record clean energy investment.
- Nat Bullard emphasizes that these aren't contradictory, reflecting diverse global energy trajectories.
Energy Transition: Observation or Aspiration?
- The term "energy transition" can be misleading, being both an observation and an aspiration.
- It's an observation in some economies that have decoupled growth from emissions, but globally, it's aspirational.
China's Automotive Influence
- China, with excess auto manufacturing capacity, is exporting vehicles to emerging markets.
- This disrupts traditional energy transition models, as these markets might skip fossil fuel dependence.