The Myth of an Energy Transition
This opinion article by Mark P. Mills argues that the concept of a global energy transition away from fossil fuels is a myth, reinforced by two current events: the Hormuz crisis (a supply shock) and the AI boom (a demand shock). The author contends that despite nearly $20 trillion in subsidies and mandates over two decades, global oil, gas, and coal use per capita has not declined, and the US has become the world's top hydrocarbon producer. The article dismisses the idea that solar, wind, and batteries can replace fossil fuels, citing a drop in public support for renewables and the persistent centrality of hydrocarbons in the global economy.
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The Myth of an Energy Transition
This opinion article by Mark P. Mills argues that the concept of a global energy transition away from fossil fuels is a myth, reinforced by two current events: the Hormuz crisis (a supply shock) and the AI boom (a demand shock). The author contends that despite nearly $20 trillion in subsidies and mandates over two decades, global oil, gas, and coal use per capita has not declined, and the US has become the world's top hydrocarbon producer. The article dismisses the idea that solar, wind, and batteries can replace fossil fuels, citing a drop in public support for renewables and the persistent centrality of hydrocarbons in the global economy.