If there's one silver lining from this horrific situation it's showing the world just how vulnerable petroleum infrastructure is. Not sure if the lesson will stick though, I suspect most people/companies/governments will get right back to putting all their eggs in the oil basket the instant this blows over.
I suspect it will because the old and gas supplies problems are structural now. Significant chunk of the infrastructure in the Gulf is destroyed already, the tankers aren't moving, and not likely to start moving any time soon. Even when they do it's going to be a long time before supply levels can go to anything like prior levels. So, we're now looking at years of disruption. That's very different from any other energy shock in living memory. So, countries will either have to start moving towards renewables or their economies are going to start crumbling. Either way the emissions will be going down. And by the time this all blows over we're going to be living in a whole new world.
It wouldn't be if it weren't for the US and its allies
This more than anything proves to me China will win the cold war. The USA bets everything on finite energy while China invests in renewables.
Countries don't even have to break away from the petrodollar for the petrodollar to become less and less relevant overtime. Not only is that a big win for China, but it's a win for the planet at large.
Exactly, and going renewable is now long a question of choice. Oil and gas disruptions will last for years, so you can't just sit that out and go back to business as usual.
equivalent to nearly 1T bcf of natural gas (peaker) electricity generation per year at just ~4 hours sun/day (1300/year). About 4% of US NG use per year. All in one month of just exports. Over life of panels, over 120% of 1 year's US NG use. Annualized would displace 1 US annual NG use every 2 years.
川建国 strikes again
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