Business News of Friday, 4 June 2021
Source: www.ghanaweb.live
2021-06-04Concerted coordination is needed for transition onto green energy – Energy Expert
play videoDr Yussif Sulemana, Snr. Oil Production Operations Specialist
• Dr Sulemana said the country needs to turn its attention to the green energy front since it is where the world is heading to
• He said such investments need to be done to transition onto green energy since it is eco-friendly
• He is advocating for concerted coordination during the transition
Dr Yussif Sulemana, Snr. Oil
Read full articleProduction Operations Specialist with Petroleum Development Oman, has stated that Ghana needs to start focusing on investing in the green energy front since it also has an implication on the prices of commodities on the market.
According to him, green energy could be the solution to the country’s problems on the ecosystem since the method is eco-friendly.
He spoke in an interview with GhanaWeb’s Amos Ekow Coffie via Zoom.
“The Green Energy Front has two connotations, it can either be bullish to the market or the other way round. Let me explain a little bit. Bullish in the sense that, it can end up taking oil prices to the very highest point that we can ever think about and that is for a short time, and green energy will deep oil prices ultimately. How will this happen? Oil prices as you see on the market is clearly dependent on how much is consumed downstream, so if the downstream gravitate to be dependent on green energy, that is sources of energy that is not coming from fossil fuel, it means that demand is certainly going to collapse, it means that phenomenally the upstream side is going to be impacted,” he said.
“The bullish sentiments that green energy can cause which we are beginning to see gradually and if we are not careful it will take us by surprise are the renewables. They are still not in any position to grant us energy security,” he added.
Green energy is any energy type that is generated from natural resources, such as sunlight, wind or water. It often comes from renewable energy sources although there are some differences between renewable and green energy, which we will explore, below.
The key to these energy resources is that they don’t harm the environment through factors such as releasing greenhouse gases into the atmosphere.
Watch the full interview below:
