Quote:
Originally Posted by Street Pharmacist
Prices are due to supply and demand. Supply is low because prices were low and energy companies were going bankrupt and investment in exploration went down. Demand is way up after a pandemic.
As for renewables and EVs
1) renewables share is increasing rapidly (though not fast enough for climate change). In fact, fossil fuel electricity generation it's growing albeit slower than renewables. There's no way to spin green policy as causing the energy crunch. This is classic commodity based supply/demand disruption. Does everyone forget negative priced oil last year???
2) EV sales were 1.6% in 2019. For 2020 they'll be at 7.6% of global light automobile sales. Next year it's expected they climb even faster. They're coming. Faster than anyone seems ready for.
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That really depends on where you are. Energy shortages in Europe, particularity Germany, are absolutely caused by green policies. Which should serve as a warning for us of what happens when you try to replace baseload generation with green alternatives and no storage.