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Fossil fuels aren't exactly doing better. Crude oil is at $66 [1], after hitting a high of $177.80 in June 2008 and spending the first half of the 2010s above
by nostrademons 5y ago
Fossil fuels aren't exactly doing better. Crude oil is at $66 [1], after hitting a high of $177.80 in June 2008 and spending the first half of the 2010s above $100 (compare: ~$25 throughout the 1960s, and ~$35 throughout the late 80s and 90s). Coal is up about 10x since the early 1970s [2]. Both of these are inflation-adjusted.
What's really happening is that the "developed world" consisted of about 400M people in 1990, and it now consists of about 4B. You can't bring a few billion people out of poverty and give them Western standards of living without dramatically increasing energy usage. Doesn't matter if it's fossil fuels or renewables. Renewables at least have the advantage of being, well, renewable.
[1] https://www.macrotrends.net/1369/crude-oil-price-history-chart https://www.macrotrends.net/1369/crude-oil-price-history-cha...
[2] https://fred.stlouisfed.org/series/WPS051 https://fred.stlouisfed.org/series/WPS051
- rad_gruchalski 5y ago> Coal is up about 10x since the early 1970s [2]. Both of these are inflation-adjusted. Sure. 1000% over 50 years. Now we’re talking in some cases 1000% within a couple of months.