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If we switched to renewable energy
(ponder.cat)
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this post was submitted on 14 Oct 2024
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No, they wouldn't. Capitalism is driven by supply, not demand.
If by some magic we switched to renewables over night, the owner class would open or expand another market to keep those ships moving.
Yeah, that worked totally well for the Guano and sodium nitrate businesses.
It's both. If demand goes down, price goes down; of supply goes up price goes down.
I expect the supply of shipping is pretty stable. It takes a while for ships to be built, it takes time for them to wear out, so in this case demand would be the driver of short term change, pushing the price of shipping in those ships reduced.
I wonder what could be carried in a former coal carrier.