Serious signs of the accelerating irrelevance of fossil 'fuels'

Discussion in 'Energy' started by 101101, Sep 17, 2019.

  1. 101101

    101101 Active Member

    1. Saudi production halved in an attack and it produces only blip in price.
    2. Exxon falls of 10 ten of S&P 500 for first time in 90 years under Trump
    3. US coal down to lowest levels since 1982 under Trump

    I think what we are seeing is that all fossil fuels are economically stranded. They have to blow up capacity to deal not with a glut caused by fossil fuels but by green energy and the US has to engage in tariffs for the same reason. It is over. Green energy is under 3 cents a kwh and falling rapidly but fossil fuels will never be able to follow. Seems like it should trip the fossil fuel derivatives bubble which insures bad (stranded asset) fossil fuels.

    Follow the money- who benefited from taking 50% of SA's capacity off line? Was it the kingdom? Was it the US? No way to harden against fossil fuels except to abandon them for green. I saw an article in Elektrek that was about trying to put out the absolute lie that fossil fuels are super efficient- I think that new kind of FUD was a sign of the truth sinking in that the point of fossil fuels for 50 years was about creating scarcity to hedge deflation but that game is up now. I get the impression that it will be the end of people having their lives filled with stupid consciousness killing busywork when fossil fuels are finally flushed. What we need are cradle to grave indexed replacement incomes- that is your freedom dividend.
     

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