Fossil Fuels

“In all of history, we've never really had a true energy transition. We've just had energy additions, and the president of the S&P, and also awesome fossil fuel historian and energy thinker, Daniel Yergin, Says this a lot, right? Like we've only ever had additi…”

“Fossil fuels aren't going away in a hurry, because the mix of energy you need, and the quantum of energy you need, compared to the AI, even more so, you're not going to get that easily only with renewables because of various aspects to do with the cycle as wel…”

“And so on, on first principles, nuclear should be an extremely affordable thing, potentially much more affordable than fossil fuels.”

“Fossil fuels or conventional fuels are a hedge on reliability, ultimately, that they provide reliability benefits to a system that has become more reliant on, ah, intermittent sources of electricity, but clean energy systems or renewables are a hedge on geopol…”

“If we could wave a magic wand and triple our output of all of our renewables, And include nuclear in there. Triple all of that. That doesn't get us to 52,000 terawatts. You still need fossil fuel. You still need oil. You still need coal. And in fact, we're goi…”

“It is intermittent electricity that's becoming the cheapest source of energy humans have ever had available. We have now entered this world where, on a primary energy basis, you can have electricity at a lower cost than burning fuel.”

“If you just look at the numbers and you look at how many vessels are on the water today which is 65,000, and how 80% of them are going to be still on fossil fuel by twenty-thirty, and probably about 30% in twenty-fifty, they need to decarbonize as well.”

“I mean, if you look at most studies, there is an advantage, you know, probably somewhere in the 25 to 40% carbon intensity benefit range relative to fossil fuel.”

“Well, I've been known to say that the energy transition is at least to a first order, basically a transition from fossil fuels to metals and minerals.”

“So this is where one of those very, very simple solutions that require development, and that require more fossil fuels.”

“So it's three things. It's cement, steel, and fossil fuels.”

“We don't make hydrogen by splitting water today. We make hydrogen a different way from a fossil fuel, actually. And we do that because it's the lowest cost way to make hydrogen.”

“When we talk about a peak, that means after 2030, we'll still be at about 73% fossil. It just means we will then start the decline.”

“Material, especially like the lipids and fats are kind of the same energy density as fossil fuels, which is really incredible.”

“Without any restrictions on hydrogen production from grid electricity, the emissions of hydrogen production in the U.S. Could be double that from producing just hydrogen from fossil fuels directly.”

“70% of, 70% of GDP in Russia, I believe, is fossil fuels.”

“In practice, because this is mostly fossil stuff, I think that ends up looking a lot like lifespan extension or some way to keep using fossil fuels into a decarbonized future.”

“One of the proposals was to mandate that 50% of Texas energy must come from fossil fuels. That measure didn't pass, but it kind of set the tone for what followed.”

“Like, if you look at these guys, Bill Gates, like I was mentioning and all that, I think, five, 10 years from now, I don't think we'll be thinking how we're thinking right now. I don't think we'll be going to fossil for energy. 10 years from now, for sure.”

“Our peak day was a little over 6200 megawatts. At, On that day, we're burning 5000 megawatts, so that 6200 was a fossil fuel”

“And so BlackRock, for example, has hundreds of ESG funds. A lot of them invest you in fossil fuels, an industry which fundamentally cannot exist in a world where we have solved climate change.”

“At the beginning of this week, BP, which is probably the most notable as going, not as British petroleum, but beyond petroleum, they came out and said, yeah, we're actually just going to focus more on fossil fuels. Given what happened in twenty-twenty-two.”

“If they had divested from fossil fuels in 2012, they would have had 2.7 billion more dollars. In that fund. It would have been about an additional 4100 dollars per pensioneer for that.”

“Transportation is almost a third of U.S. Carbon emissions, and burning fossil fuels at home is another 10%.”

“We are dependent on fossil fuels for a very long time. It is a necessary bridge fuel.”

“Inflation that's hit a range of issues throughout the economy, but is really primarily driven by the cost of energy, the cost of fossil fuels, in particular gasoline, but also home heating and electricity.”

“When we think about the past of the fossil fuel driving geopolitical gamesmanship and power in the world, the future is about minerals.”

“I think by the middle of the century, I'm very, very confident that most fossil fuel fuel use will go away.”

“The result is that peak fossil fuel almost certainly occurred in 2019, globally.”

“When you split an atom, it releases about fifty million times more energy than when you combust, for example, a fossil fuel.”

“My message has been, you need a green, brown barbell portfolio. You want to be in the brownest of the brown stuff and then invest in green tech as much as you can, hopefully not in public markets. I prefer the privates for that space.”

“When you split an atom, you're releasing almost fifty million times more energy than when you're doing sort of a combustion reaction with like, you know, a fossil fuel.”

“While certainly energy transition is going to happen over time, it is that over time, and it's not a two year process. It's a two decade to five decade to who knows how long process.”

“While I think it's possible that the purest viewpoint, the climate hipster viewpoint ends up being the right one in, in the very long run, it's possible we do move towards a zero fossil fuels, zero natural gas as a portion of primary energy supply. I think it'…”

“COP-XVI just wrapped in Scotland, we have an agreement, and for the first time it explicitly mentions fossil fuels.”

“80% or more of our energy comes from fossil fuels and will in spite of all the focus on renewables for the next 20 years.”

“If less of that type of stuff happened, that doesn't hurt our economy at all. It just shrinks the fossil fuel section and the recreational motor vehicle section, which I would argue are just drains on human productivity, really.”