Juggling Dynamite

The National Bank of Abu Dhabi has released an 80 page report on the world-changing reality of renewable energies.  Why would the National Bank of Abu Dhabi do such a thing?  They see exciting investment opportunities for the bank of course!  In their preamble:

“the changing nature of the global energy system over the next decade, highlighting the growing demand for sustainable  energy in the Gulf region; the technologies that are most likely to close the supply-demand gap; and the scale of the financing required. Arguments are prepared for why banks might choose to develop and support these opportunities, and how they can work with policy makers to positively enable
this to occur.”

See, Financing the future of energy. Here are some of the reports key conclusions:

• “Cost is no longer a reason not to proceed with renewables.” Solar is on track to achieve grid parity in 80% of countries within the next 2 years.  Even at $10/barrel for oil, and $5/mmbtu for gas, solar is still a cheaper option.
• Intermittency is no longer an obstacle with solar and wind. Developments in storage technologies are progressing rapidly, and in the next few years utility scale solutions will be deployed that further minimize concern around what was until recently seen as a major inhibitor to the uptake of renewable generation.
• In the oil-rich Gulf, energy demand is rising so quickly it risks overwhelming domestic production, turning states such as Kuwait and UAE into importers of energy rather than exporters. Hence the need for them to push into solar and wind for domestic needs, so that the Gulf states can continue to sell their gas and oil for export.
• Financing the future of sustainable energy offers excellent opportunities for the banking sector.

Last month, Saudi Arabia acknowledged that the end of the oil era was on the horizon.

This is happening.  It is very exciting for those who like the human species to evolve to smarter, cleaner, exponentially more-efficient systems.  Those who oppose or deny this evolution are destined to go the way of the dodo bird.

Lots of talk and posturing at press conferences, no progress yet on Greek debt restructuring.

Eurozone finance ministers agreed on February 20 to extend Greece’s financial rescue by four months, averting a potential cash crunch in March that could have forced the country out of the currency area.

But the extension was granted to give Athens time to negotiate a list of reforms by the end of April that would unblock further aid to the country, whose leftist-led government pledged to reverse austerity.

Tsipras, who was also meeting European Commission President Jean-Claude Juncker on Friday, called for a change in the message the euro zone was sending Greece.

“Now is the time to give a message of hope to the Greek people, not only implement, implement, implement and obligations, obligations, obligations,” he said.

But Juncker said recent progress has been too slow.

“I’m not satisfied with the developments in recent weeks,” Juncker said. “I don’t think that we have made sufficient progress, but we will try to push in the direction of a successful conclusion of the issues we have to deal with.”

Meanwhile German Finance Minister Wolfgang Schauble said the lack of progress increases the chances of an accidental Greek exit from the euro. Here is a direct video link.

A new study shows promises in improving memory in mice and it could lead to new treatment of Alzheimer’s. Here is a direct video link.

For more also see: Ultrasound therapies target brain cancers and Alzheimer’s disease