{"id":61735,"date":"2022-02-01T08:22:08","date_gmt":"2022-02-01T13:22:08","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61735"},"modified":"2022-02-01T08:22:08","modified_gmt":"2022-02-01T13:22:08","slug":"jp-morgans-misinformation-on-the-clean-energy-disruption-a-handy-guide","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61735","title":{"rendered":"JP Morgan\u2019s misinformation on the clean energy disruption \u2013 a handy guide"},"content":{"rendered":"
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JP Morgan\u2019s misinformation on the clean energy disruption \u2013 a handy guide<\/a><\/h3>\n
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The JP Morgan Asset and Wealth Management\u00a0Annual Energy Paper<\/em>\u00a0is one of the most influential publications among global investment and business leaders in the energy sector.<\/p>\n

But JP Morgan Chase\u2019s\u00a02021 Annual Energy Paper<\/em><\/a>\u00a0is a deeply flawed piece of work that promotes some serious misinformation about the clean energy transformation, reinforcing the mistaken belief \u2013 often promulgated by fossil fuel companies \u2013 that it will be slow, expensive and require onerous state intervention.<\/p>\n

Coming from JP Morgan Chase \u2013 the world\u2019s fifth largest bank, and the largest lender to fossil fuel industries \u2013 the paper informs the policy, investment and business decisions of many influential companies, organisations and governments around the world. Which is why it is important to understand that the world\u2019s largest fossil fuel lender appears largely oblivious to the dynamics of technology disruptions and energy transitions.<\/p>\n

Myth 1: Renewable energy forecasts are too optimistic<\/strong><\/p>\n

The\u00a0Annual Energy Paper<\/em>, authored by chairman of JP Morgan Asset Management\u2019s chairman of market and investment strategy Michael Cembalest, was overseen by its technical advisor, influential academic Vaclav Smil.<\/p>\n

Its tone is set by a graph on the first page depicting alleged failed \u2018renewable energy forecasts\u2019. The graph seems to show that these forecasts were overly optimistic, and then repeatedly turned out to be false.<\/p>\n

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Yet according to Ketan Joshi, who previously worked in science communications for Australia\u2019s national science agency, the sources for the alleged forecasts are\u00a0impossible to trace<\/a>.<\/p>\n

For instance, he writes: \u201cDanish physicist Bent S\u00f8rensen, for instance, seems to have published the figure between 1978 and 1980, and it isn\u2019t easy to figure out where the prediction of 50% by 2000 was made. There was never any \u2018Clinton Presidential Advisory Panel\u2019 \u2013 the phrase can only be found in republications of this very chart; so that\u2019s a mystery.\u201d<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

JP Morgan\u2019s misinformation on the clean energy disruption \u2013 a handy guide The JP Morgan Asset and Wealth Management\u00a0Annual Energy Paper\u00a0is one of the most influential publications among global investment and business leaders in the energy sector. But JP Morgan Chase\u2019s\u00a02021 Annual Energy Paper\u00a0is a deeply flawed piece of work that promotes some serious misinformation […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[27351,2267,1426,2092,674,32599],"class_list":["post-61735","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-clean-energy-2","tag-jp-morgan","tag-misinformation","tag-nafeez-ahmed","tag-renewable-energy","tag-rethink-disruption"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61735"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61735\/revisions"}],"predecessor-version":[{"id":61736,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61735\/revisions\/61736"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}