2022 Budget Sensitivities and Financial Projections
Scenarios that Solve for an End-Result Fail to Consider Feasibility
more spend to achieve the same growth
2021-2050 GLOBAL INVESTMENT $ trillions
Spend
+44%
$135
$94
substantial mineral requirements
KINDER MORGAN
MINERAL REQUIREMENTS FOR CLEAN ENERGY TECHNOLOGIES million tons
■Solar PV Wind Other ren. And nuclear EVs and storage Electricity networks Hydrogen
30
20
22
40
6x higher than today
Electricity networks
3% GDP growth
Electricity networks
EVs and storage
110
EVs and storage
Electricity networks
0
2020
STEPS
2050
NZE
STEPS
NZE
NZE heavily dependent on
growing governmental
incentives and regulations
WoodMackenzie estimates that 52 new large-scale lithium, cobalt, and nickel mines will be required by
2030 in order to achieve a certain net zero scenario
"Given mine development cycles, producing sufficient volumes of cathode materials [by 2030] appears
insurmountable. Even if high prices incentivize new mine supply, the sheer scale and speed of the
investment required under our AET-2 scenario is impossible to achieve by 2030" - Wood Mackenzie
NZE 2050 requires substantial minerals for storage that may
still be inadequate
Periods" for reliability considerations
see slide "Reliable, Long-Duration Storage is Critical in Peak Demand
Based on IEA data from the IEA (2021) World Energy Outlook, World Energy Outlook 2021 - Analysis – IEA. All rights reserved; as modified by Kinder Morgan. NZE = IEA Net Zero Scenario. STEPS = IEA Stated Policies Scenario.
WoodMackenzie "COP26 briefing: 13 October 2021"
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