Sri Lanka crisis 2022 example of oil exit failures

Hit hard by the breakdown in tourism caused by COVID-19, the higher price of oil comes as the next blow. The serious failures of the industrialized countries.

Sri Lanka crisis PDF

August 1997, an article about the possibilities of lithium manganese batteries appeared in “Bild der Wissenschaft”. Today we know that this article was completely correct. However, the German car industry relied on “emissions cheating is cheaper than innovation”.

We take Sri Lanka as a prime example of the worldwide consequences of having delayed the change to renewable energy and electric mobility for 10 to 15 years.

00:12 Export Import Oil Imports
01:06 Tourism revenues
01:34 Vehicle registrations
02:35 Electricity production
04:32 Photovoltaic power generation
05:04 Nearly US$350 million oil imports per month
06:39 Oil price in the last 5 years
07:44 Bild der Wissenschaft August 1, 1997
09:48 GELS - Global Economic Learders Summit September 2011
10:12 Keynote “We need an international organization for oil phase-out”
10:23 IEA WEO Oil Forecast from 2008 to 2030.
11:03 5 new Saudi Arabia must be found by 2030. 11:41 Failure will bring extreme oil prices and instability
11:53 1 million barrels short of market will bring US$20 more oil price
12:55 Replace oil demand with electricity from solar and wind
13:20 1 million barrels less demand means US$ 20 reduced price
13:53 1 million barrels less demand from 200 million electric scooters
14:10 1 million barrels less demand from 40 million electric cars
14:41 1 million barrels less demand from 25 million heat pumps
15:02 2% of global oil costs as budget
15:23 The cheapest way: change policies
16:35 Main task credits and investments
19:42 Stabilizing the global economy
20:08 Policy backstop on oil product price
21:06 Oil phase-out is the first step towards permanent civilization
22:50 End

Music: Andy Mangele

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Sri Lanka crisis 2022 example of oil exit failures: Hit hard by the breakdown in tourism caused by COVID-19, the higher price of oil comes as the next blow. The serious failures of the industrialized countries. https://youtu.be/Z3h7fjfZkUg

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The Sri Lanka crisis shows what many countries are facing as oil prices rise. We need to intensify the transition to renewable energy and electric mobility. https://youtu.be/Z3h7fjfZkUg

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