Net zero restrictions on oil drilling are tightening Saudi Arabia’s grip over the global market for crude and will deepen tensions with the West, the International Energy Agency (IEA) has warned.
Green rules which limit new oil fields mean that the Saudi-led Opec cartel will come to control 52pc of the market, the agency said, compared to just over a third now.
Not a great deal that can be done about that now, is there? If we’re to produce less, then those who still produce will be a larger part of supply……
Won’t stop the Nugganites.
Like any religion, they’ll only stop until everybody is converted, or dead. And then they’ll proceed to tear themselves apart..
Simple facts of life are irrelevant to them.
What if you printed the US dollars the Saudis crave because rubles just don’t buy you the cool things you want?
Well, that does tell you where the money to finance the Green bullshit comes from.
Reading the news these days is like watching a documentary about a thriving ancient civilization that just shut itself down because the priests said they’d angered the gods.
Back when the commies took over Russia they tried exporting their ideas and found that while they went down well in poor agricultural countries, the west wasn’t interested because it was too rich and too free. So the commies set about making the west less rich and less free. Going well, isn’t it?
LNG trsnsport uses about 20% of the calorific value, long distance pipelines use about 10%. Locally fracked gas – which can practically go straight from wellhead to the mains – avoids that waste of energy.
So fracking could have been presented as good for the environment. Sure, the hysterics would be hysterical, but most people would see the advantages.
Instead, our government grovels to a medieval tyranny and imports fracked gas from USA.