This editorial will appear in Tuesday’s print edition.
Here’s an unfortunate but inescapable reality: The world will burn petroleum for decades to come.
Modern industrial economies – in other words, the hopes and livelihoods of billions of people – are sustained by oil. Greener energy alternatives aren’t remotely close to supplanting it.
Until affordable renewables can be ramped up enough to replace petroleum, squeezing off the supply of crude would wreak economic distress of global proportions. By comparison, today’s hard times would look like the good old days.
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