So I'm honestly not as concerned about this as I once was. Don't get me wrong: the climate is going to change, arguably we're in a mass extinction event already and people aren't going to suddenly start acting in the collective long term welfare of humanity. One of the things I like about futurism is the levelheaded optimism and pragmatism you tend to get. And I'll call out Isaac Arthur as a well-known example of thi…
Ah, techno utopianism. It ignores reality in many ways, here are two. First, if we have clean energy, are we going to shut down fossil fuel plants that have already been built? If not, then fossil fuel will just become cheaper as demand drops, making burning fossil fuels attractive again. Countries currently plan to reduce their emissions, but none are planning to reduce their fossil fuel exports. They just hope it w…
That's not how markets work, at all. Oil has an extraction cost, and once the price falls below the profitable threshold, the production will absolutely shutdown.
This highly visible with the boom/bust cycle of the more expensive extraction areas (dakotas, canada, etc).
So as demand continues to drop due to competition from cheaper energy, oil supply will start to collapse as well because none of it comes for free and taking it out of the ground will become a money losing proposition.