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The Ukraine Invasion destabilized prices on many energy related commodities.
China has quietly built a juggernaut in energy equipment and commodities.
Unfortunately, China is supporting Russia in the Ukraine.
Today the production of sustainable energy equipment that does not depend on Russia or China is less than 10% of global production (and for some classes of equipment – zero).
Mines can take a year or more to become productive, processing facilities two or more, factories easily more than a year, all without lawsuits and red tape – add those two items into the mix and it easily can add a decade.
Europe and North America need supply chains independent from both countries.
China’s Belt and Road project has tied up many key resources, making it harder to create this independence.
Electric Vehicle production is years away from what is needed to replace the current fleet.
Heat is a basic need, we are years from making it all electric, even with a massive push.
We are building less than 40% of what is needed to meet the 2030 goals, at the current ramp rate. We are building less than 10% of the storage needed. Wind turbines, solar, and motors all currently run through China.
Are our governments willing to focus on the supply chain issues? Are we willing to build factories, mines, and processing plants? Are they willing to limit lawsuits? Cut red tape?
Until then fossil fuel will dominate our energy economy.
Can governments change the priorities, and focus on making what they need to become energy independent? Are they willing to speed up the effort, starting with the supply chain?
Are they wise enough to provide energy security until then?
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