this post was submitted on 16 Oct 2024
24 points (90.0% liked)
Climate - truthful information about climate, related activism and politics.
5289 readers
519 users here now
Discussion of climate, how it is changing, activism around that, the politics, and the energy systems change we need in order to stabilize things.
As a starting point, the burning of fossil fuels, and to a lesser extent deforestation and release of methane are responsible for the warming in recent decades:
How much each change to the atmosphere has warmed the world:
Recommended actions to cut greenhouse gas emissions in the near future:
Anti-science, inactivism, and unsupported conspiracy theories are not ok here.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Fossil fuel has actually pretty high fixed production costs. The best example was Texan oil going negative during covid. So with a fast deployment of renewables replacing fossil fuels, we will see periods of fossil fuels being cheap, as renewables replaced enough of them to see oversupply. However low prices also force production to be cut, partly by companies going bankrupt. Once enough has been cut prices are going up again.
Right now we see a number of OPEC+ countries breaking production limits. Namely Russia, Iraq and Kazakhstan. The Saudis see Iran heading towards a war with Israel and the Saudis want to hurt Iran. So the Saudis threaten increased oil production to hurt Iran's economy. That would also hurt fracking producers in the US, which would also benefit the Saudis.