1) Data indicates that future demand for oil and gas is UNDERESTIMATED, while demand destruction is HYPED.
2) Global energy demand is increasing, making decarbonization more difficult to achieve, and the process of replacing fossil fuels slower.
3) Despite massive spending on renewables in the last two decades, fossil fuels remain the dominant source of energy in the world, even in Europe.
4) Coal remains the dominant source of electricity in India and China.
5) Oil is rarely used in power generation in the OECD, China, and India. Doubling or tripling solar and wind energy sources will have a very limited impact on oil demand. However, the failure of renewable energy, and consequent power shortages, will have a significant impact on oil demand.
6) As LNG prices reached a record high in 2022, oil use in power generation increased. The level of substitution among various energy sources last year was unprecedented.
Other than that, the fossil fuel industry is finished.
Related – https://wattsupwiththat.com/2023/07/23/scientists-more-ocean-life-making-seas-look-greener-media-climate-crisis/
That’s because these products still are mostly made from those same ‘nasty fossil fuels’ or takes a great deal of it’s consumption to collect the vital ingredients needed to create these monstrosities in all levels.
It’s both hypocritical and an oxymoron!
Our politicians are following some morons for economic stimulus…
Rather than reassessment of political mistakes, our governments and politicians would rather double down and triple down on their assumptions to fix their issues and problems.
The Kingdom of Charley is heavily invested into these financial disasters.
Notice that I have no respect for the leadership were currently under?
I love the beauty that our country has but really dislike our lawmakers who are constantly changing the rules we live under.
Yes the demand for energy has outpaced the green transition.. We have spent trillions to get essentially nowhere if transition is the goal..
An all or nothing game of artificial political barriers.. The answer obviously is everything.. EVs with small gas generators would bridge the gap.. Plug in once a week sort of thing.. Smaller lighter batteries.. Range fetish solved for the time being..
Fuel consumption way down and EVs get a chance to really enter the market and iron the bugs out.. A solution, that nobody wants because politics hates solutions.. They need problems they can throw money at.. Artificial political barriers..
Truth- it’s like a cool fresh breeze on a hot dry day. Thanks Kate, we need to see the truth and you are one of those places we can find it
Coal fresh breeze.
It’s not about whether hydrocarbons will be used, it’s about who will control and ration them.
Hydrocarbons, available and inexpensive means prosperity and growth, the very things that the Bolsheviks and Jacobins of the ruling class and professoriate despise. Control for its own sake is what drives these sociopaths and the CAGW hysteria and circular funded hysteria pimping is the gift that keeps giving for them. Through their fear mongering and captured institutions, they justify everything their old mass murdering predecessors accomplished. As long as the ignorance, fear, dependency, and inaction of the people persist, the state will grow and the people will shrink back to serfdom.
My prediction is that the plan for petroleum products, farms, electricity, etc has been to demonize, regulate to the point of extinction and then nationalize and/or sell to corporate oligarchs.
When faced with the facts, our government just goes “lah, lah, lah”. Our net zero legislation transcends physical principles with the idea that if we truly believe in miracles they will happen.
CNRL stock was around 30 bucks before the pandemic, dropped to around 10 bucks in 2020 and is now around $75. And they pay a handsome dividend.
I wonder how many teacher’s pension funds hold oil stocks?
How about an immediate END to all jet fuel for anyone who believes we are killing the planet. Now. Immediately. An END to private jet fuel. Nada. None.
It won’t make any difference but by then we in the west will be living in yurts, wearing homespun, burning dung for cooking and heat and walking to work. Exactly as planned!
No shit Sherlock.
Its not like we haven’t been shouting this for the last 20 years of the deranged idiots being in control of our countries.
As I and plenty others have known for all that time, each year its getting worse and there is now zero chance of any reversal being effective. The idiots won.
Welcome to the decline.
I can’t remember which idiot on these comment pages a few years ago said “we can just open up those wells we are shutting”. Not that I could care any less but I wonder how thats working out for him/her.
Without “fossil” fuels most of us will die and that includes those who want us dead.