We’re Headed for a Global Energy Crisis. What We Need is a Transition Strategy.
News
By News
Published 2 years ago on
October 22, 2021
FILE - In this Wednesday, April 8, 2020 file photo, the sun sets behind an idle pump jack near Karnes City, USA. The OPEC oil cartel and allied countries are meeting to decide on production. The meeting is being closely watched because oil markets are tight and the price of crude is just off a three-year high as the global economy bounces back from the pandemic. (AP Photo/Eric Gay, File)

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Are we returning to the 1970s, as several commentators have recently claimed? There are surprising similarities.

The humiliating withdrawal from Afghanistan echoes the U.S. defeat in Vietnam. Prices are rising even as economic growth is stalling. Back then, the rising economic power challenging American superiority was Japan; now it’s China.

On closer examination, Fareed Zakaria says, most of these analogies turn out to be superficial. But there is one where the parallels are striking, and that should worry the Biden administration greatly. We are headed for a global energy crisis.

Read More at The Washington Post

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