Here’s what I think it means. I think the most important thing we’ve got to remember, if we want to do right in this sport, is that as long as we’re using horse power in the most efficient way, then we’ve got a good chance of doing the most good for our sport and we’re creating value for our sport right now.
This is a guest post by Jeff Krieber, a research assistant at the Center for Global Development and a fellow at the Hoover Institution.
When we’re told the world needs “more green,” we usually have to think about the energy that needs the most. So let’s start with where oil-producing countries are today — and that’s not particularly green.
Oil production in Venezuela, the world’s largest producer, is still roughly the same as it was when the Venezuelan crisis erupted in 2013. The country consumes about 10 percent of its total oil output, about the same as the U.S. It’s also facing a deep recession. In fact, Venezuela’s recession is just as bad as the one in Russia, and is already one of the worst since the Soviet Union collapsed.
The country’s energy future is a mess — and one that won’t even look particularly green as long as oil prices stay low.
“We’re going to see a lot more of the green that we’re talking about,” Krieber says. “Because the oil supply equation is based on huge amounts of demand, and the supply equation is just a bunch of stuff that a lot of countries don’t have in place right now, like the financing infrastructure they need for things like infrastructure projects and the stuff that a lot of energy-hungry countries need for their energy infrastructure.”
That’s because the U.S. and other countries have an obligation to help Venezuela overcome its energy predicament by offering financial help, but have failed to do so despite the huge amount of energy that Venezuela produces and uses.
“A lot of the countries that are looking to get rid of fossil fuels have an obligation to help those countries,” Krieber says. “If they aren’t prepared to help this country and it takes a lot of money from them, they won’t do the job.”
While many of the world’s energy-hungry countries are developing their economies, developing nations including Venezuela have more difficulty raising revenue from energy than wealthier countries can.
That’s because they rely on oil revenue to maintain state services, but they’re not as wealthy as
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