Farhad Panahov

Economist | Views are my own | Interested: Climate, Macro, International trade & development

[Farhad Panahov @panahovf]

I think most of us have a weekend read now.

[Farhad Panahov @panahovf]

Sooo… this came out:

𝗔 𝗖𝗿𝗶𝘁𝗶𝗰𝗮𝗹 𝗥𝗲𝘃𝗶𝗲𝘄 𝗼𝗳 𝗜𝗺𝗽𝗮𝗰𝘁𝘀 𝗼𝗳 𝗚𝗿𝗲𝗲𝗻𝗵𝗼𝘂𝘀𝗲 𝗚𝗮𝘀 𝗘𝗺𝗶𝘀𝘀𝗶𝗼𝗻𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗨.𝗦. 𝗖𝗹𝗶𝗺𝗮𝘁𝗲

https://t.co/rwUfrTwabd

#climatechange #energytransition #economics

[Farhad Panahov @panahovf]

“Among the key findings, the report concludes that carbon dioxide (CO2) -induced warming appears to be less damaging economically than commonly believed, and that aggressive mitigation strategies could be more harmful than beneficial.”

[Farhad Panahov @panahovf]

But… (2)
... #US total energy exports were just over $300 billion. Only a quarter was shipped to Europe. The EU already takes in nearly half of US #LNG exports. Even if the US doubles LNG capacity and redirects all of it to Europe, a huge gap remains.

[Farhad Panahov @panahovf]

𝗠𝗮𝗸𝗲 𝗶𝘁 𝗺𝗮𝗸𝗲 𝘀𝗲𝗻𝘀𝗲:
The EU committed to buying $750 billion of US #energy by 2028 — about $250 billion a year. But…

#trade #tariffs #geopolitics

[Farhad Panahov @panahovf]

But… (1)
... The #EU’s total energy imports last year just inched above $400 billion. The US — its largest energy supplier, ahead of Norway by a thin margin — accounted for only 19% of that. To meet the deal’s target, the EU would need to replace 8 of its top 10 energy partners.

[Mikal Skuterud @mikalskuterud]

Three job seekers for every job vacancy in Canada in February 2025. Make of that what you will.

[Frank Luntz @FrankLuntz]

“America would be better off if more people worked in manufacturing.”

• 80% of Americans agree
• 20% disagree

“I would be better off if I worked in a factory.”

• 25% of Americans agree
• 73% disagree
• 2% currently work in a factory

👉🏻 https://t.co/fq1rItVKC2

[Farhad Panahov @panahovf]

Pretty much the same in #Canada

#USPolitics #TrumpTariffs

[ian bremmer @ianbremmer]

european tourism to the united states: freefalling

[Farhad Panahov @panahovf]

@SufiyanSIshaq Yes, rather immediate demand and intermittency of renewables will leave a large chunk of energy to come from coal and natural gas

[Farhad Panahov @panahovf]

𝗔𝗜 𝗶𝘀 𝗴𝗲𝘁𝘁𝗶𝗻𝗴 𝘀𝗺𝗮𝗿𝘁𝗲𝗿 𝗯𝘆 𝘁𝗵𝗲 𝗱𝗮𝘆—𝗻𝗼𝘁 𝗯𝘆 𝘁𝗵𝗲 𝘆𝗲𝗮𝗿.

The #IEA says the "best #AI systems match human PhD-level" performance. But there's a catch: AI is power-hungry. And most of that power is still coming from fossil fuels.

[Farhad Panahov @panahovf]

🔗 Full IEA report: https://t.co/iJEroJkV2b

[Farhad Panahov @panahovf]

🌡️With 12 consecutive months of breaching 1.5°C and the world now moving towards 2.5°C warming, the 'Current Trajectory' is an urgent call for decisive international action.

[Farhad Panahov @panahovf]

🌍BP released their Energy Outlook 2024, and here are key insights: 1/n

#EnergyOutlook #SustainableEnergy #ClimateAction #RenewableEnergy

https://t.co/TX4Mj9Nt7d

[Farhad Panahov @panahovf]

𝗚𝗮𝗽 𝘁𝗼 𝗡𝗲𝘁 𝗭𝗲𝗿𝗼: Solar and wind energy could deliver two-thirds of the necessary emission reductions gap to Net Zero. However, achieving our climate goals will also depend on significant advancements in hydrogen, CCUS, nuclear, and hydro technologies.

[Farhad Panahov @panahovf]

𝗢𝗶𝗹: Demand is nearing its peak in next few years. Increased fuel efficiency in ICE vehicles and the rapid adoption of EVs are driving the trend. However, under the 'Current Trajectory', 20% decline in global oil demand is short of the 80% reduction needed to achieve #NetZero

[Farhad Panahov @panahovf]

𝗗𝗲𝗰𝗼𝘂𝗽𝗹𝗶𝗻𝗴: While energy continues to propel economic growth, particularly in developing nations as they gain prosperity, a crucial shift is underway—from energy addition to energy substitution. This transition paves the way for sustainable development.

[Farhad Panahov @panahovf]

𝗨𝗿𝗴𝗲𝗻𝗰𝘆: Our carbon budget is about to be exhausted by 2040 unless we significantly accelerate our efforts.

[Farhad Panahov @panahovf]

🌍 Another fantastic episode!

For the past year, the world has consistently breached the 1.5°C mark each month. What was once considered 'new normal' is now reality, and 'global weirding' continues to unfold.

https://t.co/dxCy6hpufk

#NetZero #ClimateChange #EnergyTransition

[Science Is Strategic @scienceisstrat1]

1.5C is already behind us 🌎🌡️

FT: “The global average temperature for the past 12 months was 1.64C above the 1850-1900 pre-industrial average, with each of the months at least 1.5C warmer than the pre-industrial average.”