The media isn't interested in the biggest technology story of the 2020s, the rapid transition to clean energy, because
1) it will destroy a bunch of oil based wealth and is a boring, competirive low margin business
2) it makes Democrats look good for helping it and they want Republicans to win
The powers that be are desperate that American voters not find out about this because so many of them profit from the Saudi's bonesaw regime and it's alliance with Trump bsky.app/profile/crai...
There is a one-two punch the administration is pulling off here. Not only accelerating the transition to clean energy but breaking oil’s ability to manipulate the market to defend its position. bsky.app/profile/chri...
I suspect what will happen is that Saudi Arabia realizes they are in a "use it or lose it" situation with their oil reserves and turns on the taps at full volume and puts all the other oil producers in expensive-to-extract regions out of business rapidly. But who knows bsky.app/profile/meze...
I worry that we haven't really seen exactly what the death throes of the oil wealth look like yet. They're not going to be able to stop the energy replacement, its moving too fast and its too far along, but there's so much money in oil still that I wonder how they'll try to take the economy hostage
They can pump oil cheaper than anyone else. If everyone switches tomorrow to EVs and e-bikes, the US and UK and Norway get out of oil- but everyone will still need Saudi oil for jet fuel, plastic, lubricants, etc etc.
Transportation and energy are 70% of the world oil market, but the Saudis only produce 11% of the world total. They expect to be pumping at full capacity 100 years from now, with monopoly control of a crucial market, and they’re probably not wrong.
