In recent weeks we have seen evidence on the one hand of the fast advance of renewable energy, and on the other the incredible resilience of the energy-incumbency defence against that advance, including big oil and nuclear.
Celebrations of the fast growth of renewables I will leave to the inestimable REN21 report, published on 4 June. All clean-energy advocates should spend some time immersed in it, arming themselves with bullish ammunition. The point I want to make in this column is about the residual strength of the incumbency rearguard action.
In the last week of May and the first week of June the UK, US, and Canadian governments all tried to bail out uneconomic or stranded fossil fuel and nuclear projects with many billions in public funds. I have dubbed it “The Week of the White Elephants.”