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The global cost of securing a clean energy future is rising by the year, the International Energy Agency (IEA) warned Monday, estimating that an additional $44 trillion of investment was needed to meet 2050 carbon reduction targets. Releasing its biennial "Energy Technology Perspectives" report in Seoul, the agency said electricity would increasingly power the world's economies in the decades to come, rivalling oil as the dominant energy carrier. Surging electricity demand posed serious challenges, said IEA executive director Maria van der Hoeven.
"We must get it right, but we're on the wrong path at the moment," Van der Hoeven told reporters in the South Korean capital.
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$44 Trillion Needed for Clean Energy Future
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We are now enjoying total mutual interaction in an imaginary hot tub ...
(Score: 2) by mendax on Thursday May 15 2014, @10:03PM
Well, $44 trillion is not exactly petty cash for any government. I think that may be most of the gross domestic product for the entire world economy. Maybe $44 billion for the U.S. government is petty cash, considering that the Federal Reserve can create it out of thin air as they have been doing regularly lately in buying U.S. government bonds to stimulate the economy.
It's really quite a simple choice: Life, Death, or Los Angeles.
(Score: 2) by EvilJim on Thursday May 15 2014, @10:17PM
it's a 'global cost' so there would be more than just one government involved, if they all chip in for a round if drinkys they can probably do this :) of course I am trolling...slightly.