Journal to portfolio afterlife

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Della crisi energetica.

https://twitter.com/x/status/1580208343393583106

The "climate emergency" movement, centered in the West, has restricted
1. fossil fuel investment
2. fossil fuel production
3. fossil fuel transport
This has artificially suppressed fossil fuel *supply*, making industry unable to meet growing demand. Which means sky-high prices.

For fossil fuel energy to remain low-cost requires sufficient investment. But the "climate emergency" movement has used government and private entities, often under the banner of "ESG," to punish and suppress it—meaning less fossil fuel supply.

Is it any wonder that, threatened with punishment, investment in oil and gas declined dramatically? Between 2011 and 2021, oil and gas exploration investments declined by 50%. Less investment = less supply = higher prices.

The "climate emergency" movement has rationalized its opposition to fossil fuel investment, production, and transport with claims that solar/wind could rapidly replace FFs. This has obviously not happened. Despite huge solar/wind subsidies fossil fuel demand has *increased*.

There was never any reason to expect solar /wind to replace fossil fuels. The world needs far more energy—3B people still use less electricity than a US refrigerator—so there's no reason to expect lower demand for any form of cost-effective energy, let alone ultra-versatile FFs.

 

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