About 500,000 electric vehicles (EVs) were sold globally in 2016, a figure that is expected to jump sevenfold by 2022 - U.S. Energy Information Administration
Analysis shows oil consumption growing in coming decades, due to rising petrochemicals, trucking and aviation demand but meeting this growth in the near term means that approvals of conventional oil projects need to double.
The Marathon deposit has the potential to develop an underground mine but for now management believes it’s more cost-effective to find open-pit resources at US$10 per ounce rather than more costly underground resources.
Our options are actually quite limited when it comes to the globe’s energy dilemma, the answer is nuclear energy and lithium-ion battery storage technology. Now all we need to do is convince the politicians.
Due to better coal economics and relatively unsupportive renewable energy policies, we expect coal to still dominate the fuel mix at more than 60% from now until 2027.