Climate, not COVID-19, is the real crisis of our time

This collapse of production and investment in the industry is hard on the millions of people who make their livings from it, including some entire countries, but the writing has been on the wall for some time now. The sensible and humane course is to support them as they seek different ways of making a living.

An oil rig, pictured off the Brazilian coast in 2009. The real question is: what does the decline of oil mean for our civilization’s prospects for dealing with climate change without a global calamity? That, however, is a subject for another article, writes Gwynne Dyer. Photograph courtesy of Commons Wikimedia

Opinion

BY Gwynne Dyer

April 27, 2020

LONDON, U.K.—For the global oil industry, it has been a double whammy. First a foolish price war between two of the world’s three biggest producers, Russia and Saudi Arabia, drove the price per barrel down from almost $70 in early January to under $50 in early March. They were fighting each othe...

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