94
Oil price touches $100 a barrel as energy market may be past ‘point of no return’
(www.theguardian.com)
this post was submitted on 26 May 2026
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Nations are learning the hard way how to get by without oil. I don’t see them running back to petroleum unless there’s a significant price drop.
Let's be real, oil / petroleum / gasoline / aviation gas are going to be part of the economy for decades. Countries are going to get by with less oil, but not without oil. There are things like planes that really require a very energy dense source of energy. There are other things like buses and local delivery trucks that can do fine with batteries, but where vehicles are an investment that is paid off over a decade. The new ones might be electric, but the old ones won't be replaced soon. This might have accelerated the transition in a significant way, but oil is such a big part of everything that it's still going to be around for a long time.
What I hope is that there are countries, say in Africa, that never really fully industrialized with an oil-based economy. Hopefully they can skip right past that and start with clean energy right from the start.
Nations are learning the fast way how much sunshine costs in China.