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Can We Abandon Pollutive Fossil Fuels and Avoid an Energy Crisis?

Russia’s invasion of Ukraine and the West’s response of imposing sanctions on Russia are forcing a reckoning as far as global energy policy is concerned. The International Energy Agency (IEA) forecasts that the ongoing war and the U.S. sanctions may to…

Russia’s invasion of Ukraine and the West’s response of imposing sanctions on Russia are forcing a reckoning as far as global energy policy is concerned. The International Energy Agency (IEA) forecasts that the ongoing war and the U.S. sanctions may together reduce Russian oil exports by at least 3 million barrels per day—more than 4 percent of global supplies, which is a huge chunk of the delicately balanced world energy market. Some energy analysts are forecasting that oil prices could spike up to $200 per barrel later this year, exacerbating inflation and triggering a global recession. More

The post Can We Abandon Pollutive Fossil Fuels and Avoid an Energy Crisis? appeared first on CounterPunch.org.


This content originally appeared on CounterPunch.org and was authored by Richard Heinberg.


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