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I am hoping for the same. But yhe thing is that gas and oil are stored in big underground "warehouses" and the owners just have to open the valve to be profit
by konschubert 8y ago
I am hoping for the same. But yhe thing is that gas and oil are stored in big underground "warehouses" and the owners just have to open the valve to be profitable. They may just undercut any competition and drive it out of business.
- alach11 8y agoThings aren't so bleak as you think. I work in O&G and there are huge amounts of "swing production" in the form of new wells which may be drilled or not drilled, depending on the price of oil and gas. If the price for energy from renewables becomes cheaper than the price of energy from these wells, they won't be drilled.
- konschubert 8y agoThat makes me hopeful. What do you think needs to happen for renewables to become cheap enough?
- alach11 8y agoIn the short term a carbon tax would do the trick. In the long term technological breakthroughs in renewable technology will hopefully bring the cost down.
- bigbugbag 8y agoThe fun thing is that oil and gas are actually renewables given enough time and what we label renewables are not actually renewable, do not scale or do not fit our energy use. There is no cheap energy production once you factor in costs that are not money.