08 Aug '11, 9am

Denmark's Roadmap for Fossil Fuel Independence

Denmark's Roadmap for Fossil Fuel Independence

Initially, it may seem surprising that total phase out of the use of oil, gas, and coal will not involve large costs for society in the long term. However, there are several reasons for this conclusion: First, the transition of the energy system will take place gradually over a long period of time, so that existing infrastructure will be exploited. Second, over this time period, an increased global demand for energy will make the alternative to renewable energy still more expensive. At the same time, technological development will gradually make many renewable energy sources more competitive and emission reduction targets will have a cost if Denmark continues to use fossil fuels. Finally, although the total expenditure on energy services increases by approximately 5 percent due to the transition to fossil fuel independence, the cost measured as a percentage of GDP decrease...

Full article: http://www.triplepundit.com/2011/08/denmark-road-map-for-...

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