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by rm_-rf_slash
3419 days ago
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Pipelines are much safer than trains or trucks at delivering oil or LNG. That subject is not up for debate. The problem is that when you build this infrastructure, it comes along with long-term financial contracts. Which is to say, if you build it, you're gonna use it. As a result, it discourages investments in other energy infrastructure projects. Once the pipeline is in, we are stuck with it until it ages out of usefulness or if green energy radically undercuts the profitability of fossil fuels such that the pipeline is abandoned. But because of those long-term financial contracts, the likelihood of the pipeline being abandoned is far less than it would have been if trucks were used instead. Small short-to-medium-term risk, larger long-term risk. |
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Also, remember the article from yesterday about how utilities are building solar plants to insulate themselves from swings in the price of oil and natural gas. The current round of pipeline building and the current round of solar-building are complementary; both are about moving away from coal.
Wind has arrived, solar is arriving, and geothermal and pumped hydro are probably next. The future of the world's energy supply looks pretty bright, and it looks likely that the Saudis were right back in the 1970s when they predicted that the oil age wouldn't end when we ran out of oil, just as how the stone age didn't end when we ran out of stones.