Discount_gentleman t1_j901ara wrote on February 18, 2023 at 4:41 AM

Reply to comment by Archaris in Globally, the total cost of energy for households has likely increased between 62.6% and 112.9% since Russia invaded Ukraine, say international researchers. An additional 78–141 million people worldwide could be pushed into extreme poverty as a result of these increases. by MistWeaver80

Speaking as someone who hates oil companies, I disagree. The energy transition is going to be very messy by definition. There are lots of factors and they all have different time scales, which makes it impossible to match them up. Oil and gas investments have minimum payback periods of 5-30 years, and so they can't respond to short term events, even intense ones. As global demand for fossil fuels falls, it will get even messier.

I'm not saying the fossil fuel companies are all acting in good faith, I'm saying it doesn't matter. They couldn't match supply to demand effectively even if they wanted to.

The_2nd_Coming t1_j97ir5a wrote on February 19, 2023 at 9:16 PM

I mean that's the whole reason why free markets are so powerful; it let's market forces eventually solve these supply and demand problems.