“The world’s hugely encouraging clean energy momentum is running up against the stubborn incumbency of fossil fuels in our energy systems,” Executive Director Fatih Birol said in a statement. “Governments need to resolve this at COP26 by giving a clear and unmistakeable signal that they are committed to rapidly scaling up the clean and resilient technologies of the future.” More than 50 countries and the European Union have pledged to meet net zero emissions targets. If they live up to those commitments, demand for fossil fuels will peak by 2025, but global CO2 emissions would only fall 40% by 2050, far short of net zero.
The energy sector has been bolstered in recent weeks by a sharp increase in prices.
Natural gas prices in Europe and Asia have skyrocketed, while the cost of coal in China is at a record. That’s helped push oil prices to their highest level since 2014, as some energy suppliers turn to oil for power generation.Peak oil is coming. That won’t save the world – CNN
Maybe fossil fuel prices are rising, just like nuclear, as renewable energy prices are DROPPING. This will fuel a huge boom in the renewables sector globally, as people figure this out.. Electric cars may see a huge increase in demand as well.