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We Don't Have Time

Climate idea

Changing the green energy narrative

Why is Wave Energy – the most abun-dant energy source on earth – not being funded when offshore drilling for oil and gas – a dirty and ending resources – get more funds than needed?
The historic narrative is that attempts to har-vest ocean energy has been tried for hun-dreds of years without success. The first wave power patent is from 1799. Despite the worldwide potential of ocean energy, the development has been haphazard and has at times seen some spectacular failures.
Governments, energy companies and inves-tors have never given wave energy the nec-essary long-term financial support required to get beyond precommercial trials. The total historic investment towards this marine en-ergy development is for sure less than 10 billion $US worldwide and maybe as low as only half that amount or even less.
Drilling and pumping oil from below the ocean, on the other hand, is something that has received enormous investments.
It started in small scale in 1896 – when drilling for oil in the Santa Barbara “Summerland Oil Field” began about 150 feet – off the beach in Summerland, California and has since been developed in oceans all over the world, to the degree that just the investments on the Norwegian Continental Shelf [NCS] – which accounts for but a small portion of all off-shore oilfield investments – was over 190 billion $US between 2008 and 2020*. Include operation and exploration cost and the num-ber for the time period reach 332 billion $US. These resent investments were just to keep the much greater investments from the peri-od between 1976 and 2000 to continue pro-duce oil at an ever-decreasing level from an ending resource.
The NCS investments may have supplied enough energy to cover the equivalent of the world’s total needs for a few months or may-be a year or two. The forecast for the time from 2021 to 2025 is for another 64 billion $US to be invested on the NCS just to keep up the ever-decreasing output.
If the same motto learning by doing, nothing is impossible if enough money is invested – which has been the narrative for the offshore oil industry the past 100 years – had been applied towards marine energy development there would, without a doubt, be technical and financially feasible commercial solutions available to capture the enormous amounts of energy in the ocean waves, today.
Success is a mindset, a narrative which has previously been missing in the marine energy industry. Waves4Power is different, they have changed the narrative and proved that Wave Power Works. The WaveEL™ system is now on the verge of going commercial and with some financial backing will be able to supply the world with clean electricity from ocean waves, a resource that will not run out in a few months or a year or two but will con-tinue forever. The ocean is like a very large battery, its waves are recharged every day with over 990 times more energy than all humanity needs.
Waves4Power – Power that never ends.
Göteborg, Sweden, March, 2024, by Göran Fredrikson .
www.waves4power.com
*Numbers from /economy/investments-operating-costs on norskpetroleum.no

Do you agree?

33 more agrees trigger contact with the recipient

  • George Kariuki

    3 w

    The success of marine energy development requires a change in narrative and mindset. Let's prioritize funding and support for sustainable energy solutions like wave power, ensuring a greener and more sustainable future for generations to come.

    4
    • Rukia Ahmed Abdi

      3 w

      Fundamental questions and great comparison on investment between green energy and fossil fuels extraction from the oceans. I like the insights

      7
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