And as oil reserves are shrinking, extraction becomes ever more expensive. This will turn into a negative feedback loop.
At some point, fossil power will not generate any more enough money to sustain itself. Especially since the oil economy has truly horrendous costs in terms of economic development, political independence, military expenses, wars, aircraft carriers threathening whole regions, human rights, authoritarianism, denied democracy, and so on. It could collapse just like Stalinism in 1989.
And as oil reserves are shrinking, extraction becomes ever more expensive. This will turn into a negative feedback loop.
At some point, fossil power will not generate any more enough money to sustain itself. Especially since the oil economy has truly horrendous costs in terms of economic development, political independence, military expenses, wars, aircraft carriers threathening whole regions, human rights, authoritarianism, denied democracy, and so on. It could collapse just like Stalinism in 1989.