Thread by @anasalhajji

Thread on the global energy crisis
1- Investors do not invest for "wartime"!
That is why you end up with shortages during wars, especially when supplies and materials are diverted to the army.

#OOTT #Energy #Europe #India #China #Brazil #California

2- Energy investors do not invest for the time of shortages & crises except what is mandated.

But "mandated" leads to "corruption"! Examples: problems in India and China now... and the many loopholes in the US and Europe

#energycrisis #Oil #OOTT #India #China

3- Add #COVID19, supply chain issues, policy failures, domestic & international politics, violations of all energy security principles, and low investment in recent years because of low energy prices and hype of US shale, renewables, and #ElectricVehicles ..you get energy crises

4- What analysts missed, including myself, is the domestic politics in several countries and its role in creating shortages. In particular, the problems between local governments & central governments in China, India, Russia. A lot of details here.. good for speaking engagements

5- Analysts and the media must focus on the role of NATIONALISM now: it is going to make the situation worse and more global. Limiting exports of energy sources and electricity is going to be pretty common. Meanwhile, the Biden Administration is SPINLESS

6- Also ignored is the idea of "electrifying everything." We need to take a hard look at this: my can opener doesn't have to be electric, my house doors, shades, pool & garden sprinklers do have to be monitored electronically. I understand teh efficiency, but cost is too high

7- That brings us to the elephant in the room that is ignored by design: DATA CENTERS and their energy consumption. Extrapolate forward and you can see why energy crises will continue indefinitely.

Add electric autonomous vehicles .. we are in big trouble! #OOTT #Data

8- While drought around the world got wide media coverage, it was mostly from a climate change point of view.

The role of the drought in the current energy crises cannot be ignored. Some of it is related to the wrong policies and others to politics.

9- It is clear now we are seeing a return to sanity as some media outlets started exposing the failures, including the role of climate change policies. But strangely enough, European oil companies that carried the green banner are retracting. See examples below
#Oil #OOTT

10- Remember that Equinor used to be Stata Oil. It changed its name & logo to look green.

The tweet below is from Eirik Wærness, Senior Vice President and Chief economist at Equinor! The future is clear... fits with my view, and makes me less worried.
#Oil #OOTT

11- Shell got rid of its most polluting assets and focused on renewable energy... but look what its CEO said a few days ago. #Shell $RDS
Remember: divesting DOES NOT reduce global emissions
Source: spglobal.com/platts/en/mark…

12- I am reposting two tweets here because they are relevant. We have to balance "energy security" with "environmental security." The problem is: Because of different time frames for each & varying political interests, we will move from crisis to crisis unless we reach a balance

13- Finally, it is about time the media starts asking hard questions about policy failures & the role of the IEA in these crises, including their advice to the Indian government. The IEA was established to ensure the energy security of its members. What happened? #OOTT

Typo: spineless