3 ms·
Not sure why you were downvoted, seems like a very valid concern. If we turned off oil and coal tomorrow the world would fall apart. The OddLots podcast has be
by djtango 4y ago
Not sure why you were downvoted, seems like a very valid concern. If we turned off oil and coal tomorrow the world would fall apart.
The OddLots podcast has been covering this issue on various episodes but the world of energy is a super complex system of competing interests. Ultimately we need energy to power our transition away to clean energy but the old energy industries have suffered from chronic underinvestment. There was some stat where a university course for oil (or coal?) had dropped to 1 student.
But as we're seeing, without supply prices start to shoot up so unless the world is prepared to undergo huge reduction of consumption, the transition will need to be gradual.
- ncmncm 4y agoThere is no danger or possibility of turning off oil or coal tomorrow, so it is a wholly idle concern. Concern trolling, really. Demand will fall continuously, and supply will track it. The less of it utilities use, the less sensitive they will become to price, i.e. willing to pay more for it, when they need any at all. But as demand falls off, it will be harder to place what you have, if you have extra. So expect investment in sourcing to fall. These factors will make price volatile. Industries still using mined hydrocarbons will look to get off them well before alternatives cost matches it, just because prices for alternatives will be more stable, falling on a predictable downward trend.