Comments by "Paul Aiello" (@paul1979uk2000) on "Will High Oil Prices Restart Europe’s Energy Crisis?" video.

  1. Higher prices is actually a good thing, yeah I know it's painful in the short term but it ends up killing those industries sooner rather than later, because more effort and investments go into alternatives when prices are high and considering that much of the world is already on the march for clean renewable energy, the high price is only going to help by pushing the doubters aside that keep dragging their feet. It's also quite self-defeating for the oil producing nations, cutting supple might end up pushing the price up in the short term, but you end up selling less whiles creating a boom to your rivals, the end result is that these industries are killing themselves faster than they need to do. There's a big march towards EV cars and heat pumps, that's pushing everything towards electric whiles slowly killing the oil and gas industries, higher prices can only help that by more investments in renewable energy and battery tech, and they know this, after all, look at every energy crisis in the past, they tend to be short-lived, because money is thrown at the renewable industry for alternatives, which scares the hell out of the fossil industry, basically, the market is only going to bear high prices for a short time, keep the prices high and they'll kill those industries a lot quicker than it would normally do, hence why high prices don't last that long. As for oil producing nations, especially in the Middle East and Russia, they need to be careful, the Ukraine war has started a gold rush for renewable energy in the EU, US and China, the price going up is only going to help that, some countries are too dependent on oil and gas revenue, by them trying to think they are smart, could very well backfire on them, after all, the ones with the real power are the rich buyers, they dictate where the money goes, as Russia found out on oil and gas.
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