Why We Can’t Just Stop Oil

Oil and GDP are closely linked together, with the more oil consumed by a country generally meaning the higher the GDP of that country. With that said, energy costs of solar, wind and other technologies have come down substantially in recent decades meaning that "clean" solar power is actually one of the cheapest ways to generate electricity over its lifespan. So why haven't we switched completely over to solar? Well, it's not that easy.

This video was made possible by our Patreon community! ❤️
See new videos early, participate in exclusive Q&As, and more!

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Check out our other channels ▶️
Epic Economics @EconomicsIsEpic
Context Matters @Context.Matters

And our Language Channels →

Also on Apple Podcasts or anywhere else you listen!

#EconomicsExplained #warthunder #oilandgas

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏

👑 ROYALTY CLASS 👑
Juan Benet

UPPER CLASS
Valkmit, Randall, Charles Youngs, Jeromy Johnson.

UPPER MIDDLE CLASS
Ernest Hua, Michael Wakim, Pineapples&bricks, Robert Abraham, Peter Wesselius, Michael Ling, Frank Soltero, David Poliakoff, Jay Eno, Sophie G, Brett Jubinville, Anthony Roberts, jill hoffman, Nathan Ngumi, JKH, Post Apocalyptic In Missouri, Laor Glukhovsky, Forodon, Paul Ashworth, Wendover Productions, Andrew Harrison, Shane Wailes, Igor Bazarny

MIDDLE CLASS
Per von Zweigbergk, Malleus Flavus, Backartoffel, Andy Giesen, Christopher Kastensmidt, Aryan, William Sherlock, Gerhardus, Derrick Yowell, BUBBA CONWAY, Chris, Brian, Vladimir Zotov, Seth, Dragan Alexandru, Jason, Jamie Costello, Leah Klearman, Klaus Clemens, Ps0Fa, Abel, Randall Sylvia, Eric Slimko, Empyre18, Brian Jackson, Istvan P, Kieran VR, Leonid Sorokoumov, Thomas Davenport, Nicholas Luchetta, Kim Brand, Ted Marcy, John Issitt, Joe Ryan, Patrick Staight, Wees Kendall, Shane Guthrie, Karan Mehta, roGER, Randy Cleary, Arjan, Liubov Zvereva, Michael D. Hall, Long Phan, Craig Mews, Kent Klatchuk, Roman~1, Chris Hawkins, Wesley Fite, David McIlveen, Anthony, Arend Peter Castelein, Daniel Alberto Vázquez Rodríguez, Kamil Sicinski, Dodd Willingham, Leo Vassershteyn, How long can a profile name be... this long... Wow, this is longer than I would have expected. Good lord, the letters! Secunda!, Michael Kürbis, Hugh Harris, David W., Dar H, Will, Kheng Lai Tan, David Taylor, Scott Greenwood, Jane Walerud, Zachary Demko, Michael Wolff, Siegfried Eggl, PM, Jack Annear, michael, Franklin, Trevor, Marcel Roquette, Daniel Hall, Connor Costello, John D Tyler, Petronio Coelho, Kevin MacIntyre, Travis Thompson, Matthew Eggleston, Kenneth Lum, Andrew Vinnichenko, Zachary Kasow, Johannes, Reuben Field, Nigel Pauli, Jacob, AB3, Matt McKee, Victor T., John C, Rimvydas, John Downie, Donald Wedington, Demo sthenes, Ed, Hayden van Reyswoud.

[bayyakhraiki]

Finally, we will put fossil fuels on the economics explained national leaderboard 1:38

[Hydrogen]

I was on a road trip on a 2 lane country highway and the semis were taking up the road.

One truck had a bumper sticker that said “HATE TRUCKS?! QUIT BUYING S💩T!”

[mheermance]

BTW, New York State did the same bonehead thing as Germany and shutdown Indian Point reactor. It apparently had another twenty years of life, and now it's a brownfield.

[HotSTeh]

is it just me or War Thunder has been sponsoring way too many channels? even non gaming videos can and will be sponsored by Gaijin

[OddTJ]

There is a very high chance that the servers your virtual tanks exist within are powered by electricity generated by fossil fuels... so they do in fact use fuel in this case.

[ayush]

regulating fast fashion is legit the lowest hanging fruit. The industry is excessively polluting, has marginal utility over traditional long term clothing, whole idea of the industry is built on neurolingiuistic programming of people to create demand for ever changing goods. One might even say it sucks money out of more fruitfuit efforts like research for cancer and renewables e.t.c things that can genuinely add real value.

[matthewkuhl]

Oil isn't just fuel. People don't grasp that nearly all synthetic products are petroleum-derived

[jdperdomo]

It's important to remember that, even though a lot of energy is used for our comfort, health and pleasure; there's a lot of energy used in creating unnecessary wasteful sh*t we do NOT need, with a clear planned obsolescence, for the sake of selling more.

[mordred_]

I love how dunking on Germany is now a global sport

[heronimousbrapson]

It would be nice if modern appliances would last longer, like the ones made decades ago. Then we wouldn't need to make so many of them.

[mohammedsarker]

Basically, build more nuclear and bring down the upfront construction curves through learning curves. Be more like France, less like Germany

[haweater]

Because nothing beats petroleum products as a store of energy, in both density of volume and weight, in a reasonably easy and safe to handle and transport form. Especially when you account for the weight and size of the fuel's storage and handling systems on vehicles.

[redwall]

I feel like this video would have been better with more emphasis on China and the dichotomy that it is both the world's largest builder of new coal-fired capacity and also installed more renewables than the rest of the world combined in 2022. Also currently building out around 40-50% of all nuclear power plants currently under construction

[rdormer]

@4:10 regular natural decomposition isn't a driver of climate change - it's just releasing carbon back into the carbon cycle that was generally taken out at most a decade or so ago. Hence, it's generally carbon neutral.

[expensivefreedom]

The transportation figure cited in the beginning of the episode includes car payments, btw, which wouldn’t go away if we “just stopped oil”.

[capnstewy]

I wonder how many developing countries would rather have a billion dollars in coal plant revamps than a billion dollars in food aid?

[bitol]

I feel like we’re a couple videos like this from realizing degrowth is the only solution. Please keep doing them 😊

[qsmhppb]

The expenses of a US household on minute 0:33 shows that most of citizens have reached peak energy demand and live on austerity regime. Looks terrible only a part of citizens can reach the summary 5800 $/month.

[birgittaydelotte]

09:50... Nobody really wants to consume less stuff... I beg to differ. Personally, once I reached a certain age and about 15 years after having established my home and household, I felt that I was pretty much set. Now I make a concious effort to buy things bc I truly need them, not bc I want them. Getting older, one has to also consider all the junk one will leave behind once they "check out". My goal is to consume less and less, as the years move on.

[anthonyhelms]

Mad respect for not trying to go into detail on environmental science as an economics channel. You really could’ve tried to wing it and possibly missed crucial pieces of such an argument. It’s nice to see someone admit their weaknesses even as a team.