Chapters:
00:00 Episode 3: The Coming Global Energy Crisis
13:13 Peak Cheap Oil”
15:24 Collapse of investment in Exploration & Production
17:08 Exhaustion of OPEC Spare Capacity
23:16 Strategic & Commercial Inventory Levels
25:51 U.S. Production Plateau
28:37 The Market Can’t Tolerate a Supply Shortfall
29:53 Russia-Ukraine War Escalation Risk
31:46 Conclusions
Episode 4: [ Ссылка ]
This will be one of the most important episodes of this entire docuseries, and will surely be the most controversial, since I’m going to challenge some viewers’ most strongly held beliefs.
I predict that a Global energy crisis will occur in the mid-2020s, sending energy prices much higher, and crippling the global economy. Well-intended but poorly conceived climate policy will have been the cause.
This crisis will make energy policy even more politicized and controversial than it already is now, because skyrocketing energy prices will provide strong ammunition to climate skeptics, who will blame climate policy for the economic damage caused by the energy crisis.
There will be calls from the skeptics to abandon energy transition and just go back to polluting the environment. And unfortunately, many people are likely to be swayed by these arguments because they’ll be suffering financially from the energy crisis. That means the coming crisis carries the risk of derailing the entire energy transition away from fossil fuels. And we can’t allow that to happen!
The roots of the coming crisis were sewn from good intentions. People are sick and tired of no real progress being made on energy transition. They’re outraged that we still rely on fossil fuels for nearly all our energy needs, despite the risks posed by climate change having been well-known for two full decades now. They’re mad as hell and they’re not going to take it anymore! They’re fed up with broken promises and they’re demanding action. And I say, Amen to that! This situation is ridiculous, and people are right to be outraged!
We absolutely MUST break our addiction to fossil fuels. It’s the single most important challenge humanity faces in the 21st century. And progress to date has been pitiful! After two full decades of broken promises, all renewables combined still only supply less than 5% of our energy needs.
And despite all the wind and solar farms we’ve built, fossil fuel demand continues to reach new highs every single year! We haven’t even made enough progress to stop increasing fossil fuel demand every year, never mind making any progress at all toward reducing it.
