^ Now you're talking about just the European Union
... where they have made the phasing out of fossil fuels a "priority".
(despite the fact this is harmful to the economy, they are purposely cutting the supply!)
(btw you bastards are doing harm to oil-producing Russia and they shall have their revenge!)
Earlier you were talking about global fossil fuel consumption when you said:
“fossil fuels are becoming obsolete” and that it is becoming an “obsolete industry”.
However globally:
The
violet curve gives a 3 year running mean for the variation of the volume of oil produced worldwide.
The
blue one gives the 3 year running mean for the variation of the GDP per capita on world average.
This suggest that
the dependency of our economic system on oil has increased and not decreased since the first oil shocks, which is consistent with the development of globalization, that heavily relies on international transportation.
World GDP in constant dollars (vertical axis) plotted against the world oil consumption in million tonnes (horizontal axis), from 1965 to 2014.
Green: data from 1965 to 1982,
Red: data from 1983 to 2014.
(to see the entire picture, right-click on graph, choose "open image in new tab")