Comments by "Paul Aiello" (@paul1979uk2000) on "" video.

  1. The problem is for them is that by trying to cut oil production to push the price up, they are playing into the hands of the renewable energy sector that's getting better and cheaper all the time. It's very likely thanks to renewable energy that there's going to be constant downwards pressure on energy prices, and considering the EU, US and China are investing big in renewables, countries that are either too dependent on fossil fuels or get a lot of revenue from them need to adapt and adapt fast, because the good times are quickly coming to an end, especially since Putin invaded Ukraine and made a big push to have more energy security, which renewables can deliver. What countries like Saudi Arabia and others like them need is smart investment choices, which they seem to be wasting a lot of money on projects that don't deliver a good return. The irony is in all this is that countries that sell a lot of fossil fuels are going to have a major headache maintaining the economy without major reforms and changes, which are not going to be comfortable with the majority of the people in those countries, on the other side of the coin, the countries that benefit the most from this cheap clean energy are the ones that have very few fossil fuels and are already paying high energy prices, Europe and especially EU countries could be in a good position to benefit a lot from that, producing a lot of that energy internally, which means that money isn't being exported, and eventually, the cost of energy should be a lot lower, throw in booth together and EU countries could go through an economic boom, far more money to invest whiles energy bills are much lower, other countries like Japan could benefit a lot for the same reasons. I've always seen countries that have a lot of fossil fuels as being more of a curse than a blessing, most are not very good at taking advantage of it in a responsible way, Norway being the exception to the rule, whereas countries that don't have fossil fuels are forced to do the reforms to stay ahead and competitive, so imagine that these countries don't have to spend hundreds of billions in exports to buy energy and then energy prices come down a lot internally, it's got all the potential to do an economic boom. In any case, the likes of OPEC trying to cut production to push prices up is a fool's game, by doing so, they are making renewables far more competitive and giving countries a bigger incentive to move away from fossil fuels sooner rather than later, in that sense, Putin being a buffoon in Ukraine has done the world a favour by waking us up and pushing the renewable agenda up the ladder.
    2