I always enjoy Charlie Stross‘s take on things. He’s a fiction writer, sure, but he seems to have his finger on the pulse of politics and technology, and from an international perspective. He says he is writing more escape fiction now because his past near-future dystopian writings have come true, and that is too depressing to write any more. I still love the Laundry Files and Merchant Princes series though. Anyway, his ideas below are consistent with some recent thoughts I’ve expressed that market incentives have actually shifted to favor renewable energy and electrification, but in the U.S. at least a massive onslaught of oil and gas industry propaganda is successfully keeping us from realizing what we are missing…

Renewables have definitively won: last year it became cheaper to buy and add new photovoltaic panels to the grid in India than it was to mine coal from existing mines to burn in existing power stations. China, with its pivot to electric vehicles, is decarbonizing fast enough to have already passed its net zero goals for 2030: we have probably already passed peak demand for oil. PV panels are not only dirt cheap by the recent standards of 2015: they’re still getting cheaper and they can be rolled out everywhere…

The oil and coal industries have tens of trillions of dollars of assets stranded underground, in the shape of fossil fuel deposits that are slightly too expensive to exploit commercially at this time. The historic bet was that these assets could be dug up and burned later, given that demand appeared to be a permanent feature of our industrial landscape. But demand is now falling, and sooner or late their owners are going to have to write off those assets because they’ve been overtaken by renewables.

Politics and propaganda can’t buck economic forces forever (because economic forces are ultimately, eventually constrained by our real physical universe). The question is how long these trends can take to play out. Charlie says he doesn’t expect to see it, and this is sad to me. I am one decade younger, and that makes my odds only a little bit better. Unlike Charlie, I am not an extremely talented writer making a gift of the contents of my brain to the entire world. Lately it has been making me sad when I learn that the author of a book or series I have enjoyed is dead. I find myself looking up what age they died and what they died from, and wondering what is going to come for me and when. Sad, I know. Such is the existential dread of late middle age.