As the world plunges into its own energy crisis, the major green transition from fossil fuels is collapsing.
India and China are scrutinizing the world to burn coal stock, while Germany is providing citizens tutorial How to cook without using electricity in anticipation of a power outage. Prices for natural gas, crude oil and coal are skyrocketing.
The term “energy poverty” was once reserved for the poor in developing countries. Today, some citizens of the wealthiest countries on the planet apply the term to themselves.
It’s not winter yet.
Meanwhile, Canada continues to contain the vast reserves of resources the world desperately desires.
Alberta has stopped all new coal mining development. BC regulates the existence of all proposed liquefied natural gas (LNG) terminals, except those facing chronic delays. Quebec has rejected an LNG terminal that has been in operation for nearly a decade and is considering a ban. All oil and gas development Forever in their state.
Meanwhile, the Trans Mountain pipeline is expanding at a snail pace, several years after its completion.
Canada has some of the world’s most abundant petrochemical reserves, but this surge in global demand for energy products cannot be stopped. We are severely impaired in our production and export capacities, and it will take years to meet today’s surge in demand.
Leaders must drop their idealism to face reality
How did the world fall into this turmoil?
Like almost everything these days, the COVID-19 pandemic has a lot to do with it. The blockade in 2020 has reduced demand for energy products. Due to the renewed increase in travel and commerce in 2021, energy producers were unable to increase production fast enough to meet demand.
Pandemics have disrupted the world’s supply chains, and fossil fuel supplies are no exception.
The demand shock caused by the pandemic has revealed how fragile the global energy supply chain has become. Decades of naive and ideological energy policies around the world have led to energy security challenges. Countries have enthusiastically set unjustified emission reduction targets in the fight against climate change, but traditional energy-generating facilities have been closed in anticipation of unrealized breakthroughs in renewable energy.
As the cost of oil soared, US President Joe Biden reached out to OPEC to beg them to increase production. It seems that the president never considered completing the Keystone XL pipeline to strengthen stable domestic supply.
Meanwhile, Michigan Governor Gretchen Whitmer continues to stick to her bid to close Embridge Line 5, although it requires thousands of jobs and causes energy shortages in the region.
Canada is a little better as the proposal for a pipeline from Alberta to the east has been rejected and foreign tankers are transporting oil to Quebec. The absurd virtue signaling by denying domestic fuel supplies during the purchase of foreign stocks has caught up with us. Despite being blessed with abundant energy sources, Canada could face a crisis similar to Europe as soon as the crisis spreads.
As evidenced by Germany’s plight, yesterday’s “most environmentally friendly” countries are most vulnerable to today’s energy shortages. Germany was celebrated as an energy conversion champion just a year ago. They are expected to increase coal imports this year if they can get it.
Despite facing a global energy crisis that hasn’t been seen since the 1970s, world leaders still don’t seem to receive the message. The 2021 United Nations Climate Change Conference is scheduled to take place in Glasgow, Scotland at the end of October, with the goal of reducing fossil fuel use at all costs. These costs will soon be terribly high.
The world will check the reality of energy next year. Expect a mild winter as European windmills and solar farms have failed to meet their energy needs during the cold weather and have lost the ability to produce gas and coal to fill the gap.
Aside from power outages, the prices of consumer goods rise rapidly. Dutch greenhouses are already closed due to a lack of affordable natural gas. They are a major supplier of many winter produce in Europe. The cost of fertilizer is rising because it relies on natural gas. Food prices are set to rise explosively, but prices rise for all other products that need to be shipped.
This year’s energy crisis is inevitable. It’s already working.
I just hope the world can learn from this and limit this crisis to one year. Leaders need to abandon their idealism and face reality. One day we may certainly move completely from the use of fossil fuels to renewable energy sources, but it’s clear that we aren’t there yet. There is still time to restore fossil fuel production. We can stabilize our energy supply and maintain a high standard of living that we are accustomed to.
While blinding to the obvious solution, we are in the crisis we create.
Canada may be in the right place to meet the world’s energy needs, but do we leave it to ourselves? I’m not afraid.
The views expressed in this article are those of the author and do not necessarily reflect the views of The Epoch Times.