Quote:
Originally Posted by edslunch
There are still real issues scaling up alternatives to fossil fuels that will take a lot of money to solve, but letting O&G prices rise to previously unthinkable levels will drive innovation in all areas and cheaper alternatives will come on strong. Oil has been a miracle of cheap energy that has fueled the advancement of the world’s economy for a century, but those days won’t and can’t last forever.
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I don't disagree. I think there's some massive conflation by people on both sides of the issue when it comes to fossil fuels. People in Oil
Here's how I see it: Even if we start deploying all of the clean tech we have in the highest possible scaling we can, we've got well over a decade of hydrocarbons we still need and the first few years will still probably see an increase in need. That's only if we do the absolute most which current politics will not allow.
So if that's the case, supply side policy will only increase prices for the poorest regions, but only decrease output by a little bit. It's also harder as there are many producing countries that will not comply and will simply pick up the slack in production. So how do we get there? Carrots and sticks on demand. Subsidize the transition to electric heating/mobility. Carbon tax to make green concrete/steel competitive. Mandate public purchasing to be of more greener materials. Invest in innovation through investment banks.
But I don't see very many policies aimed at the supply side. Carbon taxes work, but that's demand side. Almost every proposed policy is aimed at making us use less Oil and Gas and that's good. There are, of course, keyboard warriors shouting about shutting down O&G companies, but that's not what's happening at COP or other Climate conferences.