OPINION | Ten predictions on energy markets in 2023 By Bienvenido S. Oplas, Jr. READ:
By Bienvenido S. Oplas, Jr.installment will cover energy projections for 2023, five global and five national predictions.Data from the Organization of the Petroleum Exporting Countries show that world oil demand was 100.18 mbpd in 2019, 91.16 mbpd in 2020, and 97.01 mbpd in 2021. OPEC projects 99.56 mbpd in 2022, and 101.77 mbpd in 2023. Big demand will come from the US and China, with a combined 36 mbpd next year.
Germany, the largest economy in Europe, is currently led by the politically socialist Social Democratic Party , and the ecological socialist Greens Party. Their smaller partner, the Free Democratic Party , will try to inject some sanity into economic and energy policies but both SPD and Greens ran on a strong anti-fossil fuel, anti-nuclear power platform.
reported that: 1.) Meralco will look into small nuclear reactors, and, 2.) AboitizPower is eyeing nuclear project. Then there was a recent report, “Energy department designates RE, nuclear as 2023 priorities” . Nuclear power, at least small modular reactors , is a good long-term solution both for off-grid island provinces and the main grids.Many electric cooperatives, protected by the National Electrification Administration , are wasteful.
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