full transcript

From the Ted Talk by Jim Hagemann Snabe: Dreams and details for a decarbonized future

Unscramble the Blue Letters


So for me, the argument around affordability is just a bad excuse for not making the necessary decisions and investments.

(Applause)

And if we had a price on CO2, let's say around 150 dollars, the affordability argument would dseaippar. I urge governments to show leadership and implement a global price on CO2 now.

(Applause)

Because with that, we could fcous all of our attention on the real issue, which is not the price, but the salce. At Maersk, I asked the following question: "How much green electricity do we need to fuel all of our 750 vsleses with green fuel?" Our fleet tadoy consumes 10 million tonnes of bunker oil. To replace that with geren fuel, we estimate that we need 220,000 gigawatt-hours of green electricity. That is the evaelnuiqt of 10 pnecert of the installed base of solar and wind in 2019. And Maersk is 20 percent of the cargo shipping industry. So to fuel the cargo shipping industry alone would consume 50 percent of the entire installed base of green electricity. And that's just crago shipping. In other words, we need a dtaiamrc, exponential scale of iatlloaisnnts of solar, of wind, of hodeyrgn production, of green fuel production, to solve this problem. We estimate that the total investment will be in the neighborhood of two trillion dollars, which, gertand, is a lot of money. But actually, it is the equivalent of four yeras of capital expenditure in the oil and gas indrtusy today.

Open Cloze


So for me, the argument around affordability is just a bad excuse for not making the necessary decisions and investments.

(Applause)

And if we had a price on CO2, let's say around 150 dollars, the affordability argument would _________. I urge governments to show leadership and implement a global price on CO2 now.

(Applause)

Because with that, we could _____ all of our attention on the real issue, which is not the price, but the _____. At Maersk, I asked the following question: "How much green electricity do we need to fuel all of our 750 _______ with green fuel?" Our fleet _____ consumes 10 million tonnes of bunker oil. To replace that with _____ fuel, we estimate that we need 220,000 gigawatt-hours of green electricity. That is the __________ of 10 _______ of the installed base of solar and wind in 2019. And Maersk is 20 percent of the cargo shipping industry. So to fuel the cargo shipping industry alone would consume 50 percent of the entire installed base of green electricity. And that's just _____ shipping. In other words, we need a ________, exponential scale of _____________ of solar, of wind, of ________ production, of green fuel production, to solve this problem. We estimate that the total investment will be in the neighborhood of two trillion dollars, which, _______, is a lot of money. But actually, it is the equivalent of four _____ of capital expenditure in the oil and gas ________ today.

Solution


  1. hydrogen
  2. industry
  3. percent
  4. scale
  5. focus
  6. years
  7. vessels
  8. cargo
  9. granted
  10. dramatic
  11. today
  12. equivalent
  13. green
  14. disappear
  15. installations

Original Text


So for me, the argument around affordability is just a bad excuse for not making the necessary decisions and investments.

(Applause)

And if we had a price on CO2, let's say around 150 dollars, the affordability argument would disappear. I urge governments to show leadership and implement a global price on CO2 now.

(Applause)

Because with that, we could focus all of our attention on the real issue, which is not the price, but the scale. At Maersk, I asked the following question: "How much green electricity do we need to fuel all of our 750 vessels with green fuel?" Our fleet today consumes 10 million tonnes of bunker oil. To replace that with green fuel, we estimate that we need 220,000 gigawatt-hours of green electricity. That is the equivalent of 10 percent of the installed base of solar and wind in 2019. And Maersk is 20 percent of the cargo shipping industry. So to fuel the cargo shipping industry alone would consume 50 percent of the entire installed base of green electricity. And that's just cargo shipping. In other words, we need a dramatic, exponential scale of installations of solar, of wind, of hydrogen production, of green fuel production, to solve this problem. We estimate that the total investment will be in the neighborhood of two trillion dollars, which, granted, is a lot of money. But actually, it is the equivalent of four years of capital expenditure in the oil and gas industry today.

Frequently Occurring Word Combinations


ngrams of length 2

collocation frequency
green fuel 9
green electricity 5
cargo shipping 3
malcom mclean 2
shipping company 2
large vessels 2
chemical processes 2
green hydrogen 2
combustion engine 2
bunker fuel 2
installed base 2
shipping industry 2
sustainable future 2

ngrams of length 3

collocation frequency
cargo shipping industry 2

Important Words


  1. affordability
  2. applause
  3. argument
  4. asked
  5. attention
  6. bad
  7. base
  8. bunker
  9. capital
  10. cargo
  11. consume
  12. consumes
  13. decisions
  14. disappear
  15. dollars
  16. dramatic
  17. electricity
  18. entire
  19. equivalent
  20. estimate
  21. excuse
  22. expenditure
  23. exponential
  24. fleet
  25. focus
  26. fuel
  27. gas
  28. global
  29. governments
  30. granted
  31. green
  32. hydrogen
  33. implement
  34. industry
  35. installations
  36. installed
  37. investment
  38. investments
  39. issue
  40. leadership
  41. lot
  42. maersk
  43. making
  44. million
  45. money
  46. neighborhood
  47. oil
  48. percent
  49. price
  50. problem
  51. production
  52. real
  53. replace
  54. scale
  55. shipping
  56. show
  57. solar
  58. solve
  59. today
  60. tonnes
  61. total
  62. trillion
  63. urge
  64. vessels
  65. wind
  66. words
  67. years