2021-12-04
http://w3.windfair.net/wind-energy/pr/1946-quot-imagine-energy-without-fuel-wind-energy-a-free-fuel-that-tackles-oil-price-rises

News Release from WindEurope

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Wind Industry Profile of


"Imagine energy without fuel – Wind energy, a free fuel that tackles oil price rises”

EWEA, the European Wind Energy Association, published an opinion piece and advert promoting the benefits of wind energy to directly tackle oil price rises. The advert “Imagine energy without fuel” - published by the industry group in Brussels' main newspaper - illustrates that wind power is one of Europe’s largest indigenous energy resources and it is still largely unexploited. […]

Less than a year ago crude oil prices were in the range of US$25 to US$35 a barrel, but this summer they reached an all-time high of almost US$70. Since 2001 the price of oil has more than tripled. The International Monetary Fund says that “oil prices will continue to present a serious risk to the global economy”, whilst according to the International Energy Agency, world economic growth could be reduced by 0.8% this year as a result of record prices. Even before this summer’s price rises, a Financial Times oil market survey suggested that “governments would be wise to bring in policies that speed the end of the age of oil.”

“With the world talking about how expensive fuel is, the merits of a technology providing a free fuel supply are indisputable. As oil prices continue to spiral upwards, the era of cheap fossil fuels is coming to an end. The era of free fuel, which is what wind energy delivers, is coming into its own”, said EWEA CEO Corin Millais.

Before the oil price rises, the European Commission’s Green Paper on Security of Energy Supply concluded that in the next 20-30 years Europe will be importing 70% of its energy, up from 50% today. The baseline EU energy scenario projects that by 2030, oil imports will rise from 76% to 88% and gas imports from 50% to 81%. At the same time, new power generation capacity will need to increase by about 400 GW. 80% of the incremental energy consumption is expected to come from gas. But gas prices largely follow those of oil. In addition, as some 30% of EU electricity generated by fossil fuels comes from gas, it has a direct effect on electricity prices.

Compared with these constraints, wind power has zero fuel price risk, zero fuel costs and extremely low operation and maintenance costs. Unlike conventional fuels, wind energy is an indigenous supply permanently available in virtually every nation in the world, delivering energy security benefits of eliminating fuel costs and long term fuel price risk. In addition, wind provides zero geo-political risk associated with supply and infrastructure constraints or political dependence on other countries. Wind power has no resource constraints; the fuel is free and endless.
Source:
EWEA - European Wind Energy Association
Email:
policy@ewea.org
Keywords:
EWEA



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