World energy spending chasing the wrong targets – need a risky shift

A report from the International Energy Agency on World Energy Investment for the past year, pretty much says that spending on energy is chasing all the wrong targets, so that as public opinion says “chase renewables” actual budgets are chasing more fossil fuels, while VC start-ups sense a killing to be made around clean energy start-ups. The report entitled World Energy Investment 2019, starts off content that 2018 energy investment was stable, investing over $1.8 trillion after three years of decline. Electricity spending grew almost twice the rate of oil and gas, with investors looking for shorter and shorter lead times, to help manage risk in uncertain times. One of the big disappointment is the fact that energy efficiency, one…