The risk of enormous fossil fuel stranded assets is exactly why the sector has been using its connections and wealth to create a narrative of doubt around climate change.
It’s been successful.
Where I don’t agree with Ann is that nation states will successfully create a ‘Minsky Moment’. They’ve proven hopelessly bought. Look at Aussie PM Kevin Rudd’s destruction when he attempted just a super profits tax.
Still, we live in hope.
The reason solar is a threat and will likely do the job is not because right now it can supply base load but because the choice for any new supply is so obviously solar in terms of installation / speed of return and (for now) massive profit while retail is pegged to more expensive fossil explains the scramble for solar installation.
This is an interesting perspective and I think the abrupt changing of economic rules through history is an interesting way to present this idea.
I do see one big difference, and that is my belief/observation that what put humanity into a population overshoot condition IS our extensive burning of hydrocarbon based fuels, so while the mechanics of such a sudden decision will be similar in concept, the effects will be MUCH more broadly felt, than even the sudden abolition of slavery in the British Empire was.
Back then we still pretty much lived in a hand cranked horse drawn world, which is NOT the case today.
"the Chinese government’s auto industry subsidies and lower labour costs - all a consequence of deliberate government policy"??
The Chinese government’s auto industry subsidies ended long ago and Chinese workers cost their employers about the same as American workers cost theirs, once you adjust for benefits, productivity, etc.
Until Panama and Greenland become the 51st and 52nd U.S. states, Canada will have the opportunity to apply for membership in the European Union and the euro. Europe is certainly looking for new opportunities for mineral exploration as well. This would be a good incentive for the UK to join the EU and with the euro this time.
Interestingly, Canada does share a land border with Denmark (some arctic island north of Baffin Bay) and is only a 90 minute boat ride from a part of France (the islands of St Pierre and Miquelon), there is weirdly geographic proximity.
Is there any likelihood that the US will devalue fossil fuel assets? It seems that they have extraordinary influence over Congress, the Senate, and the White House
The risk of enormous fossil fuel stranded assets is exactly why the sector has been using its connections and wealth to create a narrative of doubt around climate change.
It’s been successful.
Where I don’t agree with Ann is that nation states will successfully create a ‘Minsky Moment’. They’ve proven hopelessly bought. Look at Aussie PM Kevin Rudd’s destruction when he attempted just a super profits tax.
Still, we live in hope.
The reason solar is a threat and will likely do the job is not because right now it can supply base load but because the choice for any new supply is so obviously solar in terms of installation / speed of return and (for now) massive profit while retail is pegged to more expensive fossil explains the scramble for solar installation.
That’s more likely to cause a minsky moment.
I’ve gone into more detail here: https://youtu.be/abCfZTM2_EQ
This is an interesting perspective and I think the abrupt changing of economic rules through history is an interesting way to present this idea.
I do see one big difference, and that is my belief/observation that what put humanity into a population overshoot condition IS our extensive burning of hydrocarbon based fuels, so while the mechanics of such a sudden decision will be similar in concept, the effects will be MUCH more broadly felt, than even the sudden abolition of slavery in the British Empire was.
Back then we still pretty much lived in a hand cranked horse drawn world, which is NOT the case today.
"the Chinese government’s auto industry subsidies and lower labour costs - all a consequence of deliberate government policy"??
The Chinese government’s auto industry subsidies ended long ago and Chinese workers cost their employers about the same as American workers cost theirs, once you adjust for benefits, productivity, etc.
Until Panama and Greenland become the 51st and 52nd U.S. states, Canada will have the opportunity to apply for membership in the European Union and the euro. Europe is certainly looking for new opportunities for mineral exploration as well. This would be a good incentive for the UK to join the EU and with the euro this time.
Interestingly, Canada does share a land border with Denmark (some arctic island north of Baffin Bay) and is only a 90 minute boat ride from a part of France (the islands of St Pierre and Miquelon), there is weirdly geographic proximity.
Is there any likelihood that the US will devalue fossil fuel assets? It seems that they have extraordinary influence over Congress, the Senate, and the White House