Friday, October 07, 2022

Failure to learn history

I found some dark humor in this article: "Lessons Not Learned: OPEC+ and the Financial Times."
Some of us are old enough to remember 1973 and 1979. If it has taken half a century to realize that our “partners” in the Gulf are not reliable, well . . .
Yes, some of us are, what's the word?  "Old."  I remember gas lines that stretched around the block and winters that required a lot of blankets at night.
The reality, however, is that we have long understood that neither these countries nor their associates are reliable suppliers, which is why the U.S.’s reestablishing its energy independence in the last decade was widely understood to be such a big deal. Thanks to ill-timed and reckless climate policies (which are unlikely to have much of an impact on the climate), that advantage is now being thrown away, with consequences that we are already beginning to see.
This the energy version of "good times make weak men."  Energy has been an affordable and accessible commodity for so long, people forgot what it meant when it wasn't so accessible.  Europe is about to learn a hard lesson, one they should have prepared for

1 comment:

Tito Puraw said...

https://twitter.com/TitoPuraw/status/1578394881868734464/photo/1