Fossil fuel is a limited resource. Even without the current wars and transport challenges, it will get more expensive as we use it all up. It's long overdue we switch to something durable.

partial_accumen@lemmy.world · 3 pts · 2d

Fossil fuel is a limited resource. Even without the current wars and transport challenges, it will get more expensive as we use it all up.

Its unlikely we'll ever reach the "use it all up" phase. Our petroleum exploration and extraction technologies continue to increase, and (during stable geopolitical conditions) worldwide demand continues to decline. Solar, Wind, and Natural Gas are just so much cheaper than oil for grid level energy. This means there's much more oil which becomes primarily used for transportation and industrial products.

The real justified fear of countries whose economy is primarily petroleum base, is that we stop using enough oil before they can sell all of their reserves. Prior to Russia being stupid and invading Ukraine and trump being stupid and attacking Iran, the fall in oil prices was pretty steady. This is even with the lackluster production from the Orinoco Belt (Venezuela) because of crumbling petroleum infrastructure.