this post was submitted on 16 Oct 2024
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This is a catastrophe
It's a nightmare. No amount of good can unmake this economic demon
This is expected. Oil prize has been on the decline for some time. I didn't expect demand to erode this fast, though. which I guess is kinda a good thing.
The only way forward is for renewables to become even cheaper that fossils. Which can be done. The EUs fit-for-55 will bring down energy prizes. Summertime we will see really low electricity prizes the comming decade in Europe because of this.