Offshore industrialization is facing mounting challenges, exacerbated by spiking fossil fuel prices and the potential consequences of a transition to an all-electric economy.
Indonesia has large oil fields but a lack of investment caused exploration and exploitation to be weak, hence oil production declines while imports rise.
Moving industrialization offshore can look like a good idea at first. But as fossil fuel energy supplies deplete, this strategy works less well. Countries doing the mining and manufacturing may be less interested in trading. Also, the broken.
There are many myths about energy and the economy, and the debunking of some of those myths could have a tremendous impact on the global economy and the energy transition