Oil Dependency Unchanged Despite Trillions Spent On Green Energy
Alternative-energy advocates see an opening, but reality points to more oil drilling, not less.
by Mark P. Mills May 01, 2026, 12:20 PM
One-fifth of global oil trade transits the Strait of Hormuz, a strategic risk that, given current events, has shattered supply-chain complacency in world energy markets. Similarly shattered is the illusion that the world is any less dependent on oil today than it was during the epoch-setting 1973–74 Arab oil embargo. [some emphasis, links added]
Supply-chain complexities in energy markets make forecasting a fraught business.
As one complexity expert notes, “small perturbations can produce disproportionately large effects.” When it comes to energy realities, however, the “direction of travel”—the International Energy Agency’s favored phrase—is robustly predictable.
Energy transitionists say that today’s oil crisis proves that we need to lean harder into alternative energy. But that experiment has been tried, and we know the results.
https://climatechangedispatch.com/oil-dependency-trillions-green-energy/
