• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 10 hours Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 8 hours America's pandemic dead deserve accountability after Birx disclosure
  • 9 hours U.S. Presidential Elections Status - Electoral Votes
  • 3 days Today Biden calls for Summit with Putin. Will Joe apologize to Putin for calling him a "Killer" ?
  • 3 days Fukushima
  • 3 days Biden about to face first real test. Russia building up military on Ukraine border.
  • 2 days CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 3 days Joe Biden's Presidency
  • 2 days New Chinese Coal Plants Equal All those in U.S.A
Ross McCracken

Ross McCracken

Ross is an energy analyst, writer and consultant who was previously the Managing Editor of Platts Energy Economist

More Info

Why Don’t We Fight Wars Over Carrots?

What are the geopolitics of carrots? It’s an odd question to ask, but one posed by veteran oil analyst Professor Paul Stevens at the LNGgc conference held October 9-10 in London. The point of the question is that carrots do not have geopolitics because they are cheap, abundant and available nearly everywhere.

Stevens was comparing carrots to renewable energy and contrasting both with oil. Renewable energy is widely distributed and available in some form to all countries.

Oil resources, at least conventional resources, are highly concentrated in the Middle East, while the main areas of consumption, with the exception of North America, tend to lack domestic reserves commensurate with demand.

Stevens’ observation was that decarbonization will de-politicize the provision of energy in terms of geopolitical competition for access to oil reserves and supply.

However, before this promised land is reached, geopolitics is likely to have some very real impacts and there is no certainty that energy security will improve. The path of decarbonization, whether fast, slow or unfinished, is likely to prove rocky.

Rapid change

The wide gap between climate change ambitions and current policies, alongside the large drop in renewable energy costs, suggest that oil companies may be substantially underestimating the likely speed and scale of change.

Take, for example, ratings agency Fitch’s recent report Midwest US Set To Experience Strong…




Oilprice - The No. 1 Source for Oil & Energy News