Sunday, August 30, 2009

renewables target will take 100 years...,

TheAustralian | EXXONMOBIL Australia chairman John Dashwood has expressed scepticism at federal laws requiring 20 per cent of electricity be sourced from renewable sources by 2020, saying such a transformation was likely to take 100 years.

Mr Dashwood said the transformation would take "a mammoth effort".

"Renewable energy growth is unlikely to even match the forecast growth for the overall electricity market," Mr Dashwood told an American Chamber of Commerce in Australia business luncheon today.

"History shows that transforming the primary sources of energy require enormous investments in infrastructure and is likely to be a 100-year challenge," he said.

"However, energy needs must be meet in the interim with available and affordable options."

Mr Dashwood said ExxonMobil's own research had shown that by 2030 fossil fuels would still supply about three-quarters of the world's total energy demand.