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submitted 5 days ago by RickyWars@lemmy.ca to c/canada@lemmy.ca

Fund will be used to finance construction of major projects of national interest

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Venezuela will start to pump oil. The Middle-East war will end. Europe is going to structurally cut down how much oil it needs. The war in Ukraine will end. Oil from Africa will flow.

These capital investments aren't expensive. A $1billion investment into something is nothing nowadays, internationally, so we should be really suspicious as to why these are not getting invested into. I don't think they have a chance of turning a profit, just money pits.

[-] yogthos@lemmy.ml 1 points 3 days ago

I actually expect that demand for oil will be shrinking going forward. The renewables are already cheaper today, and the war on Iran is going to drive prices up for years to come. Even clearing the current backlog in Hormuz will take around a year. So, countries are now rushing to buy up solar panels and China's exports doubled in March. That's going to be the prevailing trend now because producing energy domestically is a matter of national security at this point. Nobody wants to be stuck with their pants down when the next conflict breaks out or some other shock hits the supply chains. Current wars will end, and supply will get restored, but we might be living in a very different world by that point.

I'd never thought I'd see electric cars replace gas cars, even up till last year. Now I'd think that most gas cars will be gone in 15 years. When tech revolutions happen, they happen fast. Europe, Asia will quickly go all electric, as well as India, Pakistan, Egypt, S. Africa. Followed by S. and then N. America.

Look at pictures from the 1980s and 90s, it was all medium sized sedans, and small hatchbacks; times change.

[-] yogthos@lemmy.ml 2 points 3 days ago

It's often like this with new tech, it kind of simmers under the radar for a while, and then explodes seemingly all at once.

this post was submitted on 27 Apr 2026
173 points (98.9% liked)

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