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>> The only feasible way to stop digging fossil fuels is to get their price so low that it is not worth extracting them. Not sure that would have the impact yo
by rob_c 5y ago
>> The only feasible way to stop digging fossil fuels is to get their price so low that it is not worth extracting them.
Not sure that would have the impact you think. In convinced that suppliers would just stockpile in this case. Remember at the start of lockdown when cude turned negative on the stock markets.
Didn't really do much other than push the price of petrol in a car tank upwards.
- Jtsummers 5y agoBased on my family's connection to the oil industry (farmland being drilled in OK), when the prices drop, they stop pulling out oil. It's stockpiled by leaving it in place, there's no point in pulling it out when that means you have to pay the landowners and find a way to store it for the longterm.
- lumost 5y agoCheap fossil fuels tend to create demand in the form of less efficient energy use. After all, energy efficiency costs money. If you look at periods of cheap gas they typically lead to more use of flights, bigger and less efficient cars, and a reduction in alternative investments. Compare the cars from the 70s oil shock like the VW Golf with the SUVs of the 90s.