Weaning off or greatly reducing oil usage will help in the long run. It’s just a matter of whether the lesson sticks or everyone goes right back to it if/when the strait opens.
I know, and that is a silver lining, but of course developing countries are hit much harder by the oil crisis than developed countries. We just pay more for our oil and that’s it. They can’t do that and they also don’t have the resources to make the transition as quickly.
Weaning off or greatly reducing oil usage will help in the long run. It’s just a matter of whether the lesson sticks or everyone goes right back to it if/when the strait opens.
I know, and that is a silver lining, but of course developing countries are hit much harder by the oil crisis than developed countries. We just pay more for our oil and that’s it. They can’t do that and they also don’t have the resources to make the transition as quickly.