The head of global energy giant Shell says it would be “irresponsible” to cut oil and gas production at a time when the world economy is still dependent on fossil fuels.
I mean, he sucks, but I also don’t disagree that having a bridge solution during OPEC fuckaround times is a good idea. Supply cuts aren’t fun, period, especially when we can’t influence them whatsoever (since it seems dollar hegemony is going bye-bye at some point):
There’s probably a decent solution to temporarily boost and maintain domestic oil production while also feeding green R&D, whether that’s in the form of a tax, credit, government package, or full-blown turn-Shell-into-an-SOE; all of its years vs. months, I think. Bottom line, I think it’s a more complex solution than “fuck this guy”.
My idea was a mandatory investment in green energy. Like, if you want to extract X barrels of oil, fine but you have to put up Y new windmills. You want to burn X tons of coal? OK that’ll be Y new solar panels please. It’s different from a carbon tax since the energy company can still own the windmills and whatever and of course sell the electricity from them. One day they’ll look around and realize most of their profits now come from green energy, might as well spend some lobbying money on that.
I mean, he sucks, but I also don’t disagree that having a bridge solution during OPEC fuckaround times is a good idea. Supply cuts aren’t fun, period, especially when we can’t influence them whatsoever (since it seems dollar hegemony is going bye-bye at some point):
https://www.forbes.com/sites/davidblackmon/2023/04/02/a-spate-of-recent-deals-raises-chatter-of-a-fading-petrodollar/?sh=216df4c65964
There’s probably a decent solution to temporarily boost and maintain domestic oil production while also feeding green R&D, whether that’s in the form of a tax, credit, government package, or full-blown turn-Shell-into-an-SOE; all of its years vs. months, I think. Bottom line, I think it’s a more complex solution than “fuck this guy”.
My idea was a mandatory investment in green energy. Like, if you want to extract X barrels of oil, fine but you have to put up Y new windmills. You want to burn X tons of coal? OK that’ll be Y new solar panels please. It’s different from a carbon tax since the energy company can still own the windmills and whatever and of course sell the electricity from them. One day they’ll look around and realize most of their profits now come from green energy, might as well spend some lobbying money on that.