By Vijay Jayaraj – December 29, 2021
The coming cold of winter is combining with “green-inspired” energy policies that have created higher energy prices and fuel shortages.
Historically, winter has been the big killer. But centuries of innovation have made us more resilient to the cold because we fully utilize fossil fuels available in nature to generate heat and electricity. Today, however, these modern advantages are being sacrificed on the altar of climate change in exchange for the purposeful magic of wind, solar power and batteries.
Although the economic recovery caused by the pandemic has contributed to an increase in energy demand, the real reason for the shortages and price increases is the anti-fossil fuel policies of political leaders. .
In the US, motorists have faced rising gas prices as President Joe Biden has had his approval rating cut in opinion polls. The president first blamed OPEC for the price increase and then begged OPEC to increase production. International oil prices are inelastic, which means they closely follow the rise and fall of demand. It’s no surprise that fuel costs are up due to Biden’s restraint on all things fossils.
Soon after Biden became president, he canceled the Keystone pipeline, which would have supplied high-quality oil from Canada’s friendly neighbors. The president also introduced regulations that make drilling more difficult, making the US more dependent on Middle Eastern producers.
As a means of cutting losses, Biden has asked American companies to produce more oil and use strategic reserves. However, the impact of his policies will be felt in the months and years to come. Americans could face energy insecurity over the next three years due to Biden’s determination to reduce fossil fuel consumption.
In addition, there is a potential crisis in the global electricity sector, due to the obsession with so-called renewable energy – also known as unreliable. Many places – like Colorado, Texas, Germany and the UK – are considering the possibility of power outages. The situation is mainly due to over-reliance on renewable energy sources, renewable energy sources are not continuous year round and cannot provide the required base load during peak hours.
In the modern world, power failure disrupts life as almost every sector depends on electricity. Increased interest in electric vehicles could exacerbate the problem with higher demand for electricity.
In developing countries, energy disruptions have the potential to cause more life-or-death circumstances for millions of poor people in Africa, Asia and South America. Both India and China face severe coal shortages in 2021, partly as a result of shifting more public funds, time and energy to generate solar and wind power sources. The country’s large-scale renewables cannot supply electricity on demand. 17 provinces in China have experienced severe power outages, forcing factories and offices to close, leaving the poorest unemployed.
These waves of energy shortages in Asia could be a sobering warning to other countries. The future of energy security will depend on the policies adopted and it doesn’t look good at the moment.
Vijay Jayaraj is a Research Associate at CO2 Alliance, Arlington, Va. And have a Master’s degree‘degree in environmental science from the University of East Anglia, UK. He resides in Bengaluru, India.
This commentary was first published at Real Clear Energy December 29, 2021
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