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Archive link please? Also, won't the price bounce back after COVID? We are nowhere near sustainable on renewables.

• gruez 6y ago
  I'm getting catchas when trying to access archive.is, so I ended up using outline instead https://outline.com/myj3NB https://outline.com/myj3NB >Also, won't the price bounce back after COVID? addressed in the article. >With commerce resuming, the price has ticked back up, though a peak in demand may be years away. >But don’t be fooled. The world’s economies are moving away from fossil fuels. Oversupply and the increasing competitiveness of cleaner energy sources mean that oil may stay cheap for the foreseeable future. The recent turmoil in oil markets is not an aberration; it is a glimpse of the future. The world has entered an era of low prices—and no region will be more affected than the Middle East and north Africa.
• fred_is_fred 6y ago
  Fracking producers in the US act as a cap or brake on prices. When prices hit $50/barrel, some oil shale becomes profitable and comes online. When it hits $60, more does, and at $100, even more, etc etc.
  • Robotbeat 6y ago
    Not only that, but the costs for frakking have become much lower in the US as oil companies have gotten better at cost control. The US’s generous bankruptcy system also makes it fairly straightforward for companies to shed debt and continue operating. And unlike the Middle East, Low fossil fuel prices are a boon to the rest of the economy, so you don’t experience broad societal decay and upheaval due to low fossil fuel prices but instead higher stability.... This is why a diversified economy is so important because it reduces hysteresis losses in the case of sectoral interruptions.