Energy expert says oil is over

Comments by ‘world’s leading energy economist’ underscore that some folks are, indeed, learning some good lessons from the oil crisis caused by the U.S. and Israel’s attacks on Iran. The Guardian has the exclusive: ‘The damage is done’: global oil crisis has changed fossil fuel industry for ever, IEA chief says.

“Their perception of risk and reliability will change. Governments will review their energy strategies. There will be a significant boost to renewables and nuclear power and a further shift towards a more electrified future,” he said. “And this will cut into the main markets for oil.”

I don’t love nuclear in there, though existing plants are better than fossil fuels, I suppose. He did add that building renewables was an option “I never heard that anybody ever regretted… I don’t see any downsides for renewable energy.”

Ed Matthew, the UK director of the thinktank E3G, said: “The only effective path to energy and economic security is homegrown clean energy. All political parties should now be uniting around that mission. Their failure to do so tells you a lot about whose interests they truly represent.”