The coming deindustrialization of the western world

Meanwhile, china is building two new coal plants a week

They say this as though it’s a good thing:

For the first time, investments (sic) in alternative energy exceed that in fossil fuel.

LONDON, May 25 (Reuters) - Investment in clean energy will extend its lead over spending on fossil fuels in 2023, the International Energy Agency said on Thursday, with solar projects expected to outpace outlays on oil production for the first time.

Annual investment in renewable energy is up by nearly a quarter since 2021 compared to a 15% rise for fossil fuels, the Paris-based energy watchdog said in its World Energy Investment report.

… "Clean energy is moving fast – faster than many people realise," said IEA Executive Director Fatih Birol.

"For every dollar invested in fossil fuels, about 1.7 dollars are now going into clean energy. Five years ago, this ratio was one-to-one."

… Around $2.8 trillion is set to be invested in energy worldwide in 2023, of which more than $1.7 trillion is expected to go to renewables, nuclear power [no one’s building nuclear power plants in the civilized world — Ed] , electric vehicles, and efficiency improvements.

The rest, or around $1 trillion, will go to oil, gas and coal, demand for the last of which will reach an all-time high or six times the level needed in 2030 to reach net zero by 2050.

Current fossil fuel spending is significantly higher than what it should be to reach the goal of net zero by mid-century, the agency said. [Look for that to drop to zero soon — Ed]

In 2023, solar power spending is due to hit more than $1 billion a day or $382 billion for the year, while investment in oil production will stand at $371 billion.

"This crowns solar as a true energy superpower. It is emerging as the biggest tool we have for rapid decarbonisation of the entire economy," energy think tank Ember's head of data insights, Dave Jones, said in a statement.

Ironically, considering that we’re talking about energy here, you can no more turn energy devvelopment, expoloration and production at the flip of a switch than we coulld the globl economy, as the OVID conspirators knew all along discovered. Nor can you restart the manufacture of internal combustion vehicles. When the folly of this conversion to “alternative energy” is exposed by reality, when the term is revvealed to mean “no energy at all”, it will come as great disppointment to the masses.