oil is too expensive
oil is too expensive
The modern World is impossible without energy - not even the most basic daily work could be done in our life dependent on gadgets, apparels and machines. Energy is not for free; not in money-terms and also not in non-money ("non-financial") terms. And it is getting more expensive, both financial and non-financial terms.
98% of published cross-checked scientific research agrees that climate change is here, and most likely caused by human activities, mostly (but not completely) in relation to extraction or usage of some form of energy based on non-renewable fossil fuels. Climate change is happening. Now.
And a large share of climate active emissions (greenhouse gas emissions, GHG) stem from burning fossil fuels – oil, coal, and gas.
We have technologies at our disposal to generate electricity (energy) that don’t require fuel and hence do not emit GHGs.
Renewable energy systems use natural powers: the sun, the winds, the power of the oceans. All of which are indefinitely available.
In contrast, fossil fuels upon which the global energy infrastructure is currently built, are not indefinitely available. As we have exhausted the easily available liquid resources close to the surface, we therefore need to extract fossil resources from more challenging reservoirs: in the arctic, deep under the bed of oceans, tar sands, and now oil contained in rocks deep underneath the surface (fracking). That requires complex, and more importantly, expensive technology and processes. Fossil fuels are becoming more expensive.
Renewable energy technologies, at teh same time, with experience and mass production, are becoming cheaper over time.
Covering our energy needs from fossil sources will cost us more than 2% of World GDP by 2030. Covering the same needs by means of a renewable infrastructure would only cost 1% of World GDP.
Transforming the energy system would not only save us a lot of money, but also can help to avoid the worst consequences of climate change. This is the real climate-energy nexus.