Donald Trump is eager to extract oil in Venezuela. This is understandable, as there are 302 billion barrels of the black gold in the ground. However, these will not be pumped up tomorrow, nor will they likely be next year. According to experts, it could even take decades before the Venezuelan oil industry is back in full swing. But what use will fossil fuels be to us by then, given that we are currently in the midst of an energy transition? In this episode of Het Grote Plaatje, Rens de Jong and macroeconomists Han de Jong and Edin Mujagić talk to energy researcher Hans van Cleef of EqoLibrium to determine the shelf life of oil.
Listen to the entire podcast here.