Sri Lanka crisis 2022 example of oil exit failuresHit 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.![]()
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