[Opinion] Is rising supply of solar panels causing the peak oil demand scenario in global energy markets?
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I was inspired to write this opinion in response to an article from Sarah Miller about “Natural Gas Is Bringing Down Big Oil” on Medium.
I highlighted some of her assertions. See them below:
Along with the highlight I made this comment:
“While mining for more of the earth’s metal-ore resources are contributing to supply issues, especially since the rising price of gold will cause more investors to flock into the safe-have resources, at the expense of energy transition metals.”
According to Sarah’s analysis, the rising supply of solar panel energy solutions are directly causing the peak oil demand scenario in global energy markets. That’s why I offered that, since more solar panels are going to global markets, it means that the global mining projects are seeing a renewed interest in production. This scenario is causing supply issues, since more and more metals are being produced to meet this short-term demand, and thus depleting the much needed critical minerals, such as copper and nickel, that will still be needed for the rest of the decade.
Moving on from the mining issues, I then highlighted two of the assertions made about sanctions on Russia and US oil and gas industry developments.
See them below:
Along with the highlights I made these two comments:
“Sanctions are having an effect on Russia’s energy exports, but, at the same time, there are findings that show many of the EU’s energy imports are still coming from Russia, such as in Austria and Hungary.”
“I disagree with your assertion. Exxon and Chevron are not relying on US shale oil and gas to maintain profits; it’s because the global market trends reveal that the massive global energy projects, particulary OPEC countries, are turning to more local end-user customers, instead of international customers. Thus, Exxon and Chevron are merely following the global market trends, by investing heavily in US shale oil and gas, which will contribute more to the local dimension of end-user energy consumption in North America.”
I might disagree with some of Sarah’s assertions about global energy markets, but I highly recommend this writing to anyone who wants to know about the complexities facing the global energy transition. In fact, as of this publication time, this story has a total of 969 claps and 20 comments (excluding the various responses to those comments).
Read the full article: Natural Gas Is Bringing Down Big Oil.
If you like this opinion on current affairs, check out some of the previous opinions in the [The Weekend Brief] newsletter about the Russia-Ukraine and Israel-Palestine conflicts below: