Last year, the International Energy Agency made headlines by calling for an end to new oil and gas exploration by the end of the year.
A few months later, the IEA was calling for more oil.[1]
They see far into the future.
In the Pearls of expression. category we have:
Taking care of the demand side, the European Parliament recently voted in favor of a ban on internal combustion engine car sales, to enter into effect in 2035. This means that EVs must go from 0.5 percent of all cars in the European Union to 100 percent in eight years. Nobody is calling this delusional.[2]
The delusional descriptor is choice. It refers to the statement of the U.N. Secretary General “that investing in new oil and gas production was ‘delusional.'” Same source.
I like to speak of the “iron laws of arithmetic” and here it seems that there is a simple matter of arithmetic where one adds up energy needs and subtracts energy production of “renewables.” Somehow to the experts and wise leaders the result is — after a short transition period involving vague but breathtaking technological developments yet to occur — always and forever a negative number. This is Magic Wand Territory where the wand is waved and, lo, renewable energy issues forth in vast quantities.
Public policy based on magic.
Notes
[1] “Anti-Oil Lobby Faces Reality Check As Global Demand Is Set To Break Records.” By Irina Slav, ZeroHedge, 6/16/22.
[2] Id.
