How The Western World Lost Its Mind On Energy by David Yager

Recent events in Europe - including the recent invasion of Ukraine by Russia - have reminded the world that whatever you think oil and gas should be, it remains a foundation of modern civilization and a geopolitical weapon.

The low cost and abundant supplies of energy in the past ten years have lulled the western world into sense of false security. The energy shortage that began in Europe last summer and has now escalated with the Russia/Ukraine conflict begs the question “Has the western world lost its mind on energy?” And the answer is a resounding "Yes!"

For most of this century western society has been told that to prevent catastrophic climate change, the world must retool its entire energy complex and move from fossil fuels to low carbon alternatives. The chant has become “Net Zero By 2050”, except knows how to do it or what it will cost. This is surely the largest, most expensive and poorly conceived re-engineering of an essential element of human survival in history.

In the past year global energy markets have been turned upside down. Renewables have been exposed as oversold and unreliable. As the economy recovered from the pandemic, the world is learning the incumbent fuels of oil, coal and natural gas cost more and are in short supply. Which we were told repeatedly was a good thing.

Consumers, governments and capital markets are looking at what was billed as the essential “energy transition” and concluding we went too far too fast. Instead of choosing our sources of energy, we are in a situation of wondering if there will be enough affordable energy of any type. Depending on how events unfold in Europe, it could get much worse.

How did this happen? How did the world come to believe that a civilization that runs on cheap, reliable and plentiful energy could do something else without massive disruption to the economy and peoples’ lives?

David Yager has been studying this energy and the economy for years and is the author of From Miracle To Menace – Alberta, A Carbon Story. David has been invited to explain the 50-year history and major events that literally caused The Western World To Lose Its Mind On Energy.  Join us for the discussion and public Q&A  4:00pm MST Thursday March 3rd 

https://us02web.zoom.us/j/85896241732

The KEI Network is a strong supporter of initiatives to help diversify Alberta's economy, recognizing the many innovations and technologies associated with Alberta's well-educated workforce and abundance of natural resources: oil and gas, wheat and meat, timber and fibre. Our next Conference is featured here hosted by the Alberta Hemp Alliance.  Register now - Early Bird rates apply.