00:00I want to ask you what measures we might see governments forced to implement, drastic measures.
00:05Might we see rationing imposed?
00:09And I'm thinking particularly of energy rationing in some countries.
00:15Yes, and the best evidence that this is true is that it's already the case in a number of Asian
00:25countries.
00:25But in things like schools, some Asian countries, and it's also true in some African countries,
00:35had to stop, stop the activity of a number of public services as reserves were depleting.
00:45The country that has handled this in Asia the best so far is China.
00:50But because, as we all know, they had accumulated much bigger, wider reserves of forces than other countries.
01:00So, yes, we have a bit of that.
01:03And in other countries like Europe or like the U.S., meaning rich countries, we have the usual conundrum of
01:14whether this should be amortized by some fossil fuel consumption subsidies,
01:22which is at a high cost for public finance, and which is in contradiction with the notion that we should
01:29accelerate rather than slow the transition to renewables.
01:33So, it leads to important political debates, which were not there before, and which will, in my view, grow if
01:45the situation was to get worse, i.e. longer.
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