As renewable energy is failing and reserves dwindle, more of our electricity production is coming from oil. This is causing a strain on the reserves there which are going to potentially push prices higher.
The other beneficiary of all this is coal. Ironic that countries are turning back to the dirtiest of all energy sources since their "cleaner" plants were shut down.
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It definitely is ironic. The people who say that the current administration isn't responsible are dumb. When you destroy fracking and the keystone pipeline, our energy was bound to take a hit. Of course I prefer green energy but its just not ready.
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