The craving by the western nations for Electric vehicles is a welcome development but the limitations or the challenges posed by the use of Electric Vehicles calls Nigeria and Africa to thread with caution as the manufacturers of the vehicles (the Western nations) are is still groping with the challenges posed by the use of Electric vehicles.
Nigeria and Africa have not developed the Infrastructure for the so called Electric vehicles, hence the call for caution in embracing the use. When the battery goes down it takes 20 to 20 minutes to fully charge it, this may cause travel disruptions as owner may have to park and charge the battery or own spare battery. The charging stations are also limited.
Chid Ibe, a professor of Oceanography and the Blue Economy/Industry Expert (Energy, Environment and Climate Change) made lots of revelations with regards to Electric Vehicles at the 12 Emmanuel Egbogah Foundation Legacy Lecture series held last week at the Emerald Energy Institute, University of Port Harcourt, Rivers State, Nigeria with the theme: Climate Change and the Geopolitics of Energy Transition.
The Key Note Speaker at the event noted that Electric car inventory has been piling up on dealership lots this year in the USA as companies up their EV production – Insider Magazine “It’s not just that these vehicles are expensive – which they are. We’re talking about a much more nuanced lifestyle change including charging and range anxiety, as stoppers for many buyers. “It’s hard for the average customer to make that leap while spending an extra $10,000 or more” Fiorani of the car Dealers Association, said.
So, it is not affordable, very expensive.
Talking about the Bigger Picture: he noted that intermittency problems plague two of the most promising renewable Energy, Solar & Wind, known as Variable Renewable Energy (VRE) or non-dispatchable Energy.
Key questions according to him deal with the cost of renewables integration into power grids, policy and regulatory issues and the availability of suitable technologies such as energy storage technologies.
He noted that EU budgeted 2 trillion Euros to deal with issue SHOW ME THE MONEY !
According to him “Even though Africa is 20% World Population & has ample resources, it attracts only 2% global clean Energy funds. To meet development ambitions, as well as international energy access and climate goals, energy investments need to more than double by 2030, with nearly 2/3 going to clean energy. Real and perceived risks affect projects added to higher borrowing costs mean that there is a limited pool of affordable capital that energy developers in Africa can tap -see AfDB Pub Sept ’23 for new ideas! CALIFORNIA ET AL’S BAN OF ICE BY 2035”.
“ Prof David Popp, Public Administration and international Affairs Dept, Syracuse Univ.’s Maxwell School says, “While I support efforts to increase the use of electric vehicles, I worry that an all-out ban on gasoline-powered vehicles would be going too far. There is some leeway by allowing hydrogen powered vehicles. But hydrogen vehicles are still a PROHIBITIVELY expensive option and fueling stations are limited. Simply mandating the sale of Electric and Hydrogen vehicles will not be enough.” Hand writing on the Wall”, Prof Ibe noted?
”Shell Plc’s new boss, Waal Sawan echoing a pivot by other major producers toward fossil fuels and energy security. “I am of a firm view that the world will need oil and gas for a long time to come,” “As such, cutting oil and gas production is not healthy.” https://www.worldoil.com/news/2023/3/3/
BP Plc, Shell’s closest peer, said after that it would slow the planned decline in its oil and gas production to guarantee the reliability of energy supply following the disruption caused by Russia’s invasion of Ukraine. Looking at margins not volumes.
Exon –Mobil is divesting from USA, Brazil and jurisdictions with more stringent environmental safeguards and moving most assets to Guiyana where new laws on local content offers IOCs brighter prospects for the future of low cost , low carbon oil operations that will not dry up any time WORLD OIL- AUGUST’23.
USA Shale Reinvestments surge at “fastest rate in 3 years”
Reinvestment rate surged to 72% in the second quarter of this year, highs not seen since 2020 according to the Study focusing on 18 companies that collectively account for about 40% of US Shale output.
Elsewhere, the scramble for new Petroleum Acreages in cascading Bid Rounds speak of the resurgence of this Industry.
RECALL THIS GUY?
Nenad Miljkovic, a Professor of mechanical science & engineering at UIUC. “The reality is that fossil fuels aren’t going away for at least 100 years,” Advocating for greater focus on CCUS Technologies, He said “A lot of CO2 is going to be emitted before we get to a place where we can lean on Renewables HEAR UK’s GRAHAM STUART Further, explained the minister, when the UK has reached net zero in 2050, as it is legally obligated to do, it’s estimated that around a quarter of the country’s energy needs will still come from oil and gas. HEAR MINISTER STUART AGAIN !
He said that officials, collectively, in the UK government have failed to tell the people the story of dependence on oil and gas & efforts to decarbonize oil & gas. Nor has anyone discussed the fact that the Energy Industry, is One Industry.
“It doesn’t need to be divided into sheep or goats,” emphasized Stuart. “It isn’t divided between the blessed and the damned, the green and the filthy oil and gas. It is one industry.” FELA- I NEVER TELL YOU FINISH
Referring to the potential to exploit new and emerging technologies, such as hydrogen production, carbon capture usage and storage, offshore wind, he also made note that it is traditional oil and gas companies that are going to deliver these projects. “It is, in fact, the oil and gas industry’s expertise, the balance sheets, the engineering, the subsea capabilities that makes net zero possible,” said Stuart accurately. REALLY? “WHY then are we being told to ditch this petroleum under our belt because it is damned & filthy and to leap into the other world because it is clean and safe without anyone showing us any credible path to achieving this Eldorado? Who will drive the adoption of Renewable technologies for us if we prematurely snuff out our Petroleum Industry? Is it going to be another leap in the dark?
Spurred by the subtle threat that if we don’t jump willingly, we will be pushed? He asked noting that it is time to dare and take a bold step just like the Asian Tigers, Stressed the Prof.
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