The uncomfortable topics which I usually ignore are quite alarming now after taking some time to look through them. I'd like to paint a picture with quotes.
“In 2018, there were an estimated 1.73 trillion barrels of oil in the world. Enough oil to last another 50 years with an average global oil consumption of 95 million barrels per day.”
“I’d put my money on the sun and solar energy. What a source of power! I hope we don’t have to wait until oil and coal run out before we tackle that” – Thomas Edison, 1931
“This new study indicates that the warming in the Arctic is having a significant impact on winter weather in both North America and East Asia.”
“The EIA predicts that by 2025 Brent crude oil's nominal price will rise to $66/b. By 2030, world demand is seen driving Brent prices to $89/b. By 2040, prices are projected to be $132/b. By then, the cheap oil sources will have been exhausted, making it more expensive to extract oil. By 2050, oil prices could be $185/b.” – Prices already exceptionally higher currently than 2025 prediction.
For those who didn't read the quotes, oil will last until 2068, Thomas Edison, hopes we switch to solar energy before we run out of oil and coal on earth. Meanwhile, new studies show warming in arctic is causing significant impact on winter weather causing colder winters in North America and East Asia, which increases demand for natural gas and coal, which further exacerbates the warming in artic causing even colder winters. Oil price predictions are also severely underreported.
Idk what this all means, feels like a ticking time bomb with hardship ahead and much opportunity as the world will change energy sources in our lifetime. Bet on oil, of course it'll become more costly, or bet on renewable energy. Can someone smarter express their educated opinion on this matter?
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