To close the year, some good cheer. Thanks for reading and the encouraging comments, I appreciate it. I’ll be taking a break until 2024, so Happy Christmas.

Gratitude, which poses a challenge

This season I’m more grateful than ever for living in the West in the fossil fuel age. Never before have people lived so well, for so long. And I like living long and well.

But our wonderful civilisation is frying us. We’ve got to get the same quality of life, with a different energy system, and spread it around the rest of the world.

Don’t give me “degrowth”. Malthus wasn’t right then and isn’t now. Naysayers might have pesky facts about today’s limits. We optimists have the whole future to prove them wrong.

Climate is a technology problem. Good. We can do that.

Good news: the US is throwing billions, and its young, at the problem

Nothing has changed the world more than Americans giving capital to bright kids. Our world was built by this nutty system. See: Intel, Microsoft, Google, Apple, Uber, SpaceX/Starlink, Tesla etc.

Climate is now getting massive Venture Capital - $11.8bn in 2023 (Verdict). The IRA is pushing up to $1T into clean energy & manufacturing.

Crazy stuff is getting a hell-why-not attitude. See: Valar Atomics. Some 23-year-old posted this mockup of a nuclear + hydrogen rig on Twitter. He got $1.5m seed capital in hours. 🤯

Bonus: they take the risk. We kick back, and use what works.

Good news: China will act in its own self-interest

China doesn’t have much fossil fuels, and doesn’t like importing energy. (You know, US Navy blockades.) So they’re after energy security through massive amounts of renewables.

Great: China-scale manufacturing makes expensive things cheap for everyone.

EVs will replace oil cars, <20 years. Batteries are getting so big and cheap, they’ll electrify it all: cars, trucks, grid-balancing storage, trains, ships and short-distance planes. Incredible statistics here from Assaad Razzouk. Offshore wind’s crazy big - Mingyang’s new turbines are 20MW each: one stick, 292m diameter blades, powering 96,000 households.

They can do so many things no one else can: this concept nuclear power container ship is bigger, faster and cleaner than anything else. Bet against it happening? Careful.

Good news, sort of: Europeans will preach

Climate is in the long tradition of us Europeans pushing ideologies on the world. Even the Pope now writes on climate change. It’s helpful if it keeps the world on track.

Just wish we’d practise too. Germans led in solar, but are shutting nukes & digging coal. UK sort of invented offshore wind but stopped. Spaniards did a ton of PV, then dumped investors.

Must do better.

One thing to worry about

Finally, what can you do?

Electrify. Get off liquids and gases: you need electrons - we can clean those. Get an EV. You’ll like it. Take the train and look out of the window. Consider a heat pump. Put solar everywhere.

Help those working on the problem. Invest in risky ventures. Mentor the young. Make it prestigious: We need techies in climate, not more dating apps.

Support decent politicians. More than ever, we need this. They need our time and money.

Live properly. Avoid fast fashion. Support responsible farming. Get a reusable cup. Renovate your windows. Ride a bike. You know the drill. 

Thanks for reading. For the last 15 years, I’ve been founding energy transition businesses including Estover Energy (industrial biomass CHP), and co-founded 3ti (solar/EV charging/batteries in one). I sit on the board of Active Energy Group (high carbon bio).

My new business is Beaverbrook Energy - supporting commercial & industrial companies in the energy transition. Follow us on LinkedIn ahead of our 2024 launch.