A Very Predictable Global Energy Crisis — Irina Slav

It is, in fact, entirely accurate and fair to explain the high energy prices as a result of clean energy transition policies. It was these policies that discouraged investment in new oil, gas, and coal production. It was also these policies that led to the shutdowns of coal and nuclear plants that reduced generating capacity that simply cannot be replaced by wind or solar on a MW for MW basis because wind and solar do not generate power continuously. And it is these policies, in Europe, China, North America, and elsewhere that, unless revised to reflect reality a bit better, will condemn billions of people to blackouts, energy shortages, and higher electricity bills.

The cost of addressing externality is starting to bite. And the vise is closing. The world is caught between a rock and a hard place as warming increases and going green while preserving the current living standard is not as simple as some imagined.

Oilprice
A Very Predictable Global Energy Crisis

Irina Slav