| ▲ | myrmidon 4 days ago | |
> Countries that can be oil independent definitely should do that. This does not necessarily follow. Doubling down on becoming oil independent might have a massive price because the required investments into extraction and refining industry could also be spent on renewables. Furthermore, we already see renewables outcompeting fossils on price/kWh, so ending up in a really inefficient sunk-cost pit is pretty likely, with all the refinery investments not even paying back their cost because a conflict now does not guarantee that fossil prices/demand will stay high. | ||