Although the media give a great deal of coverage to electric vehicles, advances in battery technology and nonconventional modes of transportation, both the International Energy Agency and the Energy Information Administration (EIA) project that the consumption of liquid fuels — oil and gas — will continue to increase over coming decades. The increase in natural gas consumption will be primarily for electric power generation. Crude oil is refined primarily into transportation fuels — gasoline, diesel and jet fuel — almost 80 percent.
Supporters of a rules-based international order are probably just a little bit pleased that neo-reactionary Vladimir Putin and his inner circle are experiencing an economic meltdown of unprecedented proportions thanks to tumbling oil prices. However, any Schadenfreude one might experience should surely be tempered by the understanding that the real victims of Russia’s economic woes […]