Tuesday, May 24, 2022

Oil is oil

During the campaign Biden called for zero carbon emissions by 2050. His plan is to to replace fossil fuels with wind and solar. His administration has taken steps to achieve that objective but it has led to a shortage of oil and gas production. They are now looking to buy oil from Venezuela, a place where poor management allows leaking of oil throughout the process and the oil is high in contaminants. HOUSTON/WASHINGTON, March 8 (Reuters) - U.S. officials have demanded Venezuela supply at least a portion of oil exports to the United States as part of any agreement to ease oil trading sanctions on the OPEC member nation, two people close to the matter said. Next on the agenda is to look to Iran. We may be about to see a surge in oil from Iran. That’s the hope, at least, surrounding talks in Vienna aiming to revive the 2015 nuclear deal, also known as the Joint Comprehensive Plan of Action. This is problematic on two fronts. First burning oil produces CO2 no matter the source and second moving to wind and solar creates new environmental hazards.

No comments:

Post a Comment