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‘The damage is done’: global oil crisis has changed fossil fuel industry for ever, IEA chief says (www.theguardian.com)

submitted 1 month ago by arbilp3@aussie.zone to c/worldnews@aussie.zone

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The oil crisis triggered by the Iran war has changed the fossil fuel industry for ever, turning countries away from fossil fuels to secure energy supplies, the world’s leading energy economist said.

Fatih Birol, the executive director of the International Energy Agency (IEA), also said that, despite pressure, the UK should forgo much of its potential North Sea expansion...

Birol said a key effect of the US-Israel war on Iran was that countries would lose trust in fossil fuels and demand for them would reduce.

“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 hope the Australian government takes note, though nuclear energy is not the best choice for us imv.

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[–] Poem_for_your_sprog@lemmy.world 1 points 1 month ago (5 children)

Why the hell would nuclear not be a good choice for Australia? Solarmaxxing is a great strategy but why not back it up with nuclear?

[–] Alloi@lemmy.world 14 points 1 month ago (1 children)

Apparantly geothermal is extremely viable in australia for baseload as well. Also safer, and cheaper in the long run.

[–] mycatsays@aussie.zone 5 points 1 month ago

Yes.

Gosh, 20 years ago at uni I had science professors telling the class that we could (should) do geothermal.

Somehow it's still not a thing we even talk about doing. ¯_(ツ)_/¯

[–] angrystego@lemmy.world 9 points 1 month ago (3 children)

That depends. Is Australia self sufficient when it comes to nuclear fuel?

[–] eestileib@lemmy.blahaj.zone 7 points 1 month ago

There is plenty of uranium ore. Long way from there to a nuclear industry though.

[–] Poem_for_your_sprog@lemmy.world 3 points 1 month ago

Good point, dunno on that one

[–] TheHolm@aussie.zone 1 points 4 weeks ago

We have plenty of uranium but no capacity to enrich it or turn to actual fuel rods. So we do not.

[–] arbilp3@aussie.zone 9 points 1 month ago

From my understanding a nuclear power station would take 8-10 years to get up while costing an enormous amount, especially now that transport, materials, etc, etc, will cost a lot more with the current supply situation. So, for those reasons it is not a viable way to go.

[–] IndustryStandard@lemmy.world 8 points 1 month ago* (last edited 1 month ago)

Takes way too long to set up. Like 20 years with all delays.

Solar you buy today and place tomorrow. And it is cheaper too.

[–] TheHolm@aussie.zone 1 points 4 weeks ago

Because nuclear works, can be build, and fit well to current infrastructure. Renewables can't replace base generation, require non existing production capacity, grid upgrades and etc.