Climate activists believed that if governments were to impose regulations that limit fossil fuel production, fossil fuel prices would rise, encouraging more usage of renewable energy sources. Nevertheless, government support still would be needed to make renewable sources cost competitive. That reality combined with geopolitical developments have made the transition from fossil to renewable fuels far less smooth than climate activists had assumed.
Here in the US, notwithstanding the Biden administration’s commitment to the transition, the fossil fuel industry has kept America not only energy independent but also exporting more fuel to our allies in Europe, who have been scrambling to replace their imports of Russian fossil fuels because of the Ukraine war.
Consider the following: