The World Is Half-Prepared for a Different Energy Future
Humanity’s energy plans have two giant gaps.
by Robinson Meyer
Jan 05, 2022
4 minutes
Late January of last year, a group of economists, analysts, and financial journalists made an annual wager: How much would a barrel of crude oil cost when the market closed on December 31, 2021? Back then, the United States was only beginning to distribute vaccines, COVID-related hospitalizations were at an all-time high, and a futures contract for a barrel of Brent crude, one of the world’s two benchmark oil prices, cost about $55.
Most of the 29 guesses came in between $50 and $60. But last week, on the final day of the year, the price closed at $77.78. Lang Reynolds, a North Carolina–based.
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