Energy & Science
Why $100 a Barrel Oil Could Be Bad for the Energy Transition
Market uncertainty leads to lower green investments and increases the burden on governments to intervene—neither helps speed up the move to clean energy
A Rosneft Oil Co. oilfield near Sokolovka village, in the Udmurt Republic, Russia in November 2020.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
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With oil costing more than $100 a barrel, and Russia’s war in Ukraine underscoring the risk of relying on fossil fuel, it would seem like a great time to speed up the transition away from the polluting fuel. The reality isn’t so simple.