Ukraine crisis reveals hard truth that the world isn't ready for the energy transition

Moscow’s aggression laid bare the vulnerability of global oil markets, and the ability of bad actors to disrupt energy supply chains. The domino effect of a spike in oil prices has rippled through markets for other commodities and industries, and has already knocked out global economic growth.

That’s left policy-makers in a bind: If they can’t rein in energy prices soon, will they lose the public’s trust and be forced to water down their climate policies? Should they pump more oil and gas and reset their environmental goals, or double down on renewables despite soaring energy prices in the short term? Should they invest in both?Article content

As a major energy producer, Canada has a role to play both in the short term and in the future. We propose increasing production from oilsands and conventional producers immediately by around 500,000 barrels per day to calm volatile markets. Crucially, if Canadian barrels displace those of other producers, notably some of Russia’s output, there would be no additional global emissions. In addition, the net economic benefit of rising oil production — as much as $10.5 billion annually — can help offset the cost of accelerating decarbonization in other sectors. Canada can also meet its 2030 targets if it pursues its stated goal of reducing 75 per cent of methane emissions by the end of the decade.

financialpost Maybe this is the turning point The impetus to jumpstart the transition That doesn’t fit the big grease narrative though does it

financialpost Just ask California or Texas what a green energy economy looks like when crap hits the fan. Delusional if you think the world could run without natural resources 😉

financialpost Hahahaha oh boy

financialpost But Russia's war on Ukraine illustrates the fossil fuel economy has serious implications threatening world political stability &peace: Another reason to fast track renewables, so bad actor autocratic leaders of oil &gas-rich nations can't corrupt & destabilize the world in future

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Ukraine crisis reveals hard truth that the world isn't ready for the energy transitionYadullah Hussain: But there is a way for Canada to achieve its climate goals and ensure energy security Yadullahussain being held ransom by small handfuls of powerful people, limiting access to one of our daily living necessities so prices soar... yeah, we're more than ready to transition. Yadullahussain Or maybe reveals that the oil industry has their claws into our lives so much that they have imposed this difficulty on us, and that to be safer we should be aggressively adopting other energy resources. But postmedia is here to sell you Alberta oil on the backs of dead UKR. Yadullahussain Really? You think maybe if it had started sooner, it would be less of an issue.
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