JP Morgan Reports Rise in Carbon-Free Energy Use, Challenges Ahead
JP Morgan Reports Rise in Carbon-Free Energy Use, Challenges Ahead

JP Morgan Reports Rise in Carbon-Free Energy Use, Challenges Ahead

News summary

The latest JP Morgan annual energy report highlights the gradual increase in global energy consumption from carbon-free sources, noting a rise from 14% to over 18% since 2012. While solar energy is set to grow from approximately 2% to 4.5% of global energy consumption by 2027, fossil fuels remain critical to human prosperity and industrial production. In the U.S., President Trump's recent executive order seeks to boost domestic production of critical minerals to reduce reliance on foreign sources, particularly China, amid concerns over national security. Mexico's new energy laws, effective March 18, 2025, aim to enhance state control over the electricity and hydrocarbons sectors, prioritizing state-owned enterprises like the Federal Electricity Commission. Additionally, a survey by AlixPartners reveals that while there is high optimism among energy executives regarding net zero goals by 2050, insufficient planning may hinder progress. Overall, these developments underscore the complex interplay between energy transition efforts, regulatory frameworks, and economic dependencies on fossil fuels.

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