Warwick McKibbin reckons Vladimir Putin might be the best thing that’s ever happened to the energy transition.
Speaking at The Australian Financial Review Business Summit on Tuesday, the economist, academic and former Reserve Bank board member argued that surging commodity prices caused by the war in Ukraine could force the urgent shift to clean energy to accelerate.
Really?
In the parallel universe Mark Mills at the Manhattan Institute has been sending warning signals for years that the push for intermittent energy in the west could have drastic geopolitical consequences. Here he explains how the conflict in the Ukraine has brought the drastic consequences upon us ahead of schedule.
Naivete about energy realities robbed the U.S. and its allies of important “soft power” options and helped finance Russia’s aggression. In the near term, our choices are limited, but continuing down the same energy path is a formula for yet more problems in the future.
He notes that the EU and the US over the past two decades spent more than $5 trillion and made countless mandates to replace oil, natural gas and coal.
This brought the hydrocarbon share of all energy use down by two percentage points […]
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