The idea that the very real environmental costs of EV input extraction somehow mean the net impact is higher than oil extraction and use is extremely funny.https://twitter.com/EnergzdEconomy/status/1395753299958276109 …
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The de-growth faction of
Twitter continues to (ironically) grow!https://twitter.com/JavierBlas/status/1397622810839748612 …Show this thread
I do think Javier's point about increasing capex being unsustainable for the e&p industry is basically correct tho--in a world where consumption is dropping YoY the question is whether returns can be made up on renewables in a way that doesn't require divi cuts from supermajors
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I also as a general rule also agree that while supply side can provide solutions, addressing the demand side with carbon pricing is an overall preferable solution
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Agreed albeit only in a very abstract sense - I think that to make the kind of carbon pricing scheme that I'm typically hearing of pol./socially feasible in the ways that'd actually make the desired impact would require such a massive reorientation it could be redundant itself
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One interesting thing is that it's pretty easy to imagine a scenario where cutting back on oil production/E&P could actually be good for RoACE because they don't have to go further afield into more hostile places to keep reserves as high - focus on easy extraction instead
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Yeah I mean this is basically what Javier is saying, one option is just to stop new e&p capex and focus on keeping the margins you've got
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