The new energy crisis: What you should know

Source: Prof Johan Willemse, SAPPO News October 2021, photo credit: Bene Trends

The influential magazine The Economist describes the current energy situation in the world as “The first big energy shock of the green era” and go on to describe the grave problems with the transition to green energy power to reduce global carbon emissions to zero by 2050.

Plans and action will be debated at the COP26 summit. It further reports that prices of oil, coal and gas has soared 95% in Europe since May 2021. The first big green energy crisis is unfolding with soaring prices of “old energy” sources, as they are phased out, but there are insufficient renewable resources to replace this. This is creating supply shortages as economies grow, urbanisation increases and the energy demand of modern society keeps growing.
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