Why the world is experiencing a serious energy crisis. I’m sure you already know why, but Michael Shellenberger lays it out in detail.
TEXT:
The Hormuz crisis is the precipitating factor in the current energy crisis, but the underlying cause is too little oil and gas production outside the Persian Gulf.
Had the world spent the past decade building the oil, gas, LNG, pipeline, and fertilizer infrastructure that engineers designed and companies proposed, the Hormuz crisis would still be a serious geopolitical event, but it would not threaten to cause a recession.
North America
— The Atlantic Coast Pipeline, a 600-mile natural gas line from West Virginia to North Carolina, saw its cost double from $4.5 billion to $8 billion during years of environmental litigation before Duke Energy and Dominion Energy cancelled it in July 2020.











