4 ms·
Spot on. Production cuts would actually lead to more countries with unscrupulous leaders ramping up their own production. We need to focus on consumption. I.e.
by likecarter 5y ago
Spot on. Production cuts would actually lead to more countries with unscrupulous leaders ramping up their own production.
We need to focus on consumption. I.e. moving to other sources.
- eru 5y agoI'm not sure it's that easy: if you just reduce consumption but don't touch production, someone with less scruples than you can buy (slightly) cheaper oil and use it. I guess the big deal is to come up with alternatives that can compete on cost with oil?
- likecarter 5y agoIt will definitely have to match or exceed performance based on cost. Right now, I think there is no truly viable alternative for electricity generation in most low income countries. Not enough money for renewables + battery storage. Not enough money for nuclear or hydro. We can only hope that more advanced countries can create the battery technology we desperately need for the whole world.
- eru 5y ago> Not enough money for renewables + battery storage. Not enough money for nuclear or hydro. Do you mean those alternatives are more expensive per Joule, or do you mean that the alternative have higher up front capital costs? For the later, the global financial system can help: capital from rich country is more than happy to invest in poor countries as long as the risk-adjusted returns are there. (Thus driving down the risks is important!) There's also still the replacement of kerosene lamps by eg electric lights that going on.
- frosted-flakes 5y agoForcing reduced consumptipn will lower costs of alternative energy sources. It's already happening anyway, but governments can enact policies that accelerate this trend.