Fossil fuel production will be gradually shut down not by government
intervention but by geological constraints in the coming years. The good
news is carbon emission will go down as well.
Peak oil has been incorrectly predicted more than once
Geological constraints have been overcome by technological innovations throughout the industries history
I will concede the easy oil fields have been discovered & are generally in decline
But there are massive reserves in oil sands (Canada Venezuela)
The articles criticism of fracking is it has been fueled by low cost capital
Depletion rates for shale oil are much higher vs conventional oil & some analysis shows poor ROIC in the US
However if conventional oil supply continues to deplete the economics for shale oil improve due to higher prices
FF will still be the dominate energy source long after your kids are gone
Fossil fuel production will be gradually shut down not by government
That will not stop them from trying. Our own govt has worked very hard to imped our industry
Govts world wide are beholding to some very irrational environmental groups with explicit goals to shut down FF period
Their efforts will lead to a supply shock
The problem is the oil industry operates like a forge with cash flow investment acting as the bellows and the coal depletes just as the production depletes
Environmental lobbyists are working to starve the industry of investment capital & doing that right now
No investment capital, means no exploration, no drilling, no addition to reserves while reserves are constantly depleting
Meanwhile demand for FF continues to grow despite trillions spent on renewables
supply shock & an energy supply shock in an already inflationary environment. Yikes
Ready, shoot, aim
As you say Fossil fuel production will not be shut down by government , but they will sure make a mess of it
Without impacting Co2 levels to any meaningful extent.