BRICS Is Bringing On The Energy Wars \ stacker news ~econ

1086 sats \ 17 comments \ @TomK 1 Jan econ

The geopolitical landscape undergoes a profound transformation as the UAE, Saudi Arabia, Ethiopia, Egypt, and Iran officially join BRICS, solidifying its standing as a formidable force. Together, these nations propel BRICS to control 29% of global GDP and a commanding 43% of worldwide oil production.

The energy wars are on. Fight for real collaterals will be crucial meanwhile the EU is trying to stay at the table of importance by forceing others into their infantile system of (climate) moralism.

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251 sats \ 11 replies \ @Undisciplined 1 Jan

If only the bulk of North America weren't run by a bunch of anti-petroleum and anti-nuclear morons.

283 sats \ 0 replies \ @TomK OP 1 Jan

Last year of the Davos crowd's dominance. Soon the pendulum will move to the opposite. Stay strong

0 sats \ 9 replies \ @Lost_dogz 1 Jan

Are you aware that North America is the world biggest oil and gas producing region?

0 sats \ 8 replies \ @Undisciplined 1 Jan

Yes, and I'm aware that there's much more that could be developed on state and federal land, but the bunch of anti-petroleum morons running things keep it from happening.

0 sats \ 6 replies \ @Lost_dogz 1 Jan

How do you get to be the worlds biggest oil producing region when you're run by anti oil morons?

25 sats \ 0 replies \ @Undisciplined 1 Jan

Much oil and gas development happens on privately owned land in states with strong property rights for developing it.

0 sats \ 4 replies \ @Lost_dogz 1 Jan

Hint: both sides of the isle have been very much pro oil for the last 25 years

283 sats \ 2 replies \ @TomK OP 1 Jan

Nonono. The Obiden-Clan clearly followed the agenda of the Davos Crowd and overregulated or forbid the exploration of new oil and gas fields.

0 sats \ 1 reply \ @Lost_dogz 2 Jan

That seems to contrast the fact that oil production in 2023 in the US and Canada set a new all time high record.

0 sats \ 0 replies \ @Undisciplined 2 Jan

Only if you ignore the point I made about production taking place largely on privately owned land. There's also been increased production from existing wells that higher prices made economical.

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25 sats \ 0 replies \ @Undisciplined 1 Jan

This is simply false. Oil production on federal land (which is what they actually control) is much lower than would be supplied on an open market.

0 sats \ 0 replies \ @TomK OP 1 Jan

That's the point

25 sats \ 1 reply \ @JesseJames 2 Jan

F oil, run nukes as energy.. problems solved, no more wars.... well, that would be too logical, so most likely it wont happen...lol

0 sats \ 0 replies \ @TomK OP 2 Jan

They are building a lot new capacities. Nukes are the future

25 sats \ 2 replies \ @Lost_dogz 1 Jan

This only makes energy independence for the EU more important than ever. Since the EU is not sitting on massive fossil reserves, renewables make a lot of sense for many use cases. Oh, it's also cheaper

0 sats \ 1 reply \ @TomK OP 2 Jan

Nukes. Only nukes. Renewables can't survive without subsidies

100 sats \ 0 replies \ @Lost_dogz 2 Jan

I don't know man, subsidies for oil and gas are orders of magnitude larger than for renewables, yet the cost for fossil fuels only increased (which makes sense because easily extractable fossils are getting depleted), whereas the cost of renewable has dropped by 90% in 10 years.

In some places it's already cheaper today to build new renewable plants than to run existing fossil power plants.

You may not like it for ideological reasons, but the free market doesn't care