01 Apr '13, 7pm

Citigroup: Renewables will triumph and natural gas will help

Citigroup: Renewables will triumph and natural gas will help

Banking giant Citigroup recently issued a report [PDF] that ought to thrill fans of renewable energy. However, tucked inside the good news is a pill that some greens will find difficult to swallow. The good news is that Citi expects renewable energy to triumph; it believes that typical forecasts like those from the International Energy Agency are too pessimistic. Contrary to a certain strain of conventional wisdom , it says, shale gas will not crowd out renewable energy. Quite the opposite. The pill? Citi expects it will take lots of natural gas — more than we’re currently using, in the medium term — to get to a power system run primarily on renewables. In fact, renewables and shale gas are in a “symbiotic” relationship, the report says, each helping the other increase market share. If that’s true, a moratorium on fracking, called for by many greens, might serve to inhibit...

Full article: http://grist.org/climate-energy/citigroup-renewables-will...

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