Energy Transition Still Means Billions in Fossil-Fuel Investment
- Demand for fossil fuels surging as war roils markets
- In time of chaos, ‘good to think about the job to be done’
A liquefied natural gas facility in Cameron, Louisiana, U.S.
Photographer: Mark Felix/BloombergThis article is for subscribers only.
The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment.
The U.S. and European countries are planning liquefied natural gas terminals that will be in service for decades. Coal demand is surging around the world and U.S. shale suppliers will be pressed to fill a potential supply gap for nations moving away from Russian natural gas.