Records keep falling in solar power production.
Michael Liebreich, Bloomberg New Energy Finance:
You have only to watch half an hour of any business channel to see at least one so-called expert opining on future oil prices. I say so-called, not because they lack credentials, but because they generally lack the successful track record that is the only true test of expert punditry. If these TV stations would research what their talking heads had predicted in the past – before the oil price surges of 2007-2008 and 2011-2012, say, or before the crashes of late 2008 and 2014 – they would realize they might as well interview Bubbles the Chimp. Bubbles doesn’t spend his time tracking tankers, monitoring storage levels at Cushing or listening to OPEC press conferences, but his views on oil prices are rendered no less valid by his intuitive approach.
But what about the long-term forecasters – the International Energy Agency (IEA) and its U.S. counterpart, the Energy Information Administration (EIA)? What about the oil companies, with all their resources and their legions of economists? What about energy ministries, grid operators, treasury departments, academia? From the earliest days of my Summit presentations, I have raised a reliable laugh by comparing their past clean energy forecasts with historical out-turns. There is now a whole internet genre making such comparisons, bringing pleasure to millions. I feel bad about it – many of the authors of these forecasts are friends and clients – but if they don’t want to be mocked for their forecasts, they either need to improve them or stop publishing them.
Continue reading “In the Middle East – Sun Rises as Oil Sets”




