World is in its ‘first truly global energy crisis’ – IEA’s Birol

Sure thing – we wanted that. Let’s be clear – when politics just about anywhere in the developed world makes life for conventional energy companies miserable and entices them to go for tax cash handouts, you should not be surprised when investment in those same reliable energy choices goes down to a trickle. Oil and gas are a very long-term industry. Kick us in the nuts and you won’t feel anything for years but when you do (and you will) then quick fixes don’t exist anymore. Years of abuse will take years to sort out, but we have not even started to look at the real problem so don’t hold your breath. 

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