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Governments are designing policies to lower demand for oil and boost alternative sources of energy. Speeding this transition is necessary to tackle climate change. But it could also lead to debt crises, bankruptcies and a decade of lost development https://t.co/twsAv2tGsT ๐
๐ "Without more gas-fired power stations, support for net zero risks collapse" "Britainโs over-reliance on renewables needs to be offset for a transition to succeed" Read the full column from @LiamHalligan below ๐ https://t.co/7VOxrQgnYQ
The supply-led oil shocks of the past half-century were a frequent source of geopolitical turmoil. Unless the coming energy transition is approached with more foresight, the next-half century will be no less fraught https://t.co/dy5gmEHni5 Photo: Jim West/Zuma Wire/Eyevine https://t.co/orDqwv2viE
The energy market is undergoing a significant shift as demand, rather than supply, becomes the primary influence. Governments are implementing policies to reduce oil demand and promote alternative energy sources to address climate change. However, this transition could result in financial challenges like debt crises and bankruptcies.