What Adam Smith’s The Wealth of Nations can teach us about today’s failed energy transitions

Despite three decades of COP climate talks and a boom in renewables, global emissions continue to rise, rooted in capitalism’s relentless drive to expand energy use. Adam Smith’s The Wealth of Nations helps explain why clean energy has grown without pushing fossil fuels out.

Small modular nuclear reactors are a dead end

Small modular reactors (SMRs) are being promoted as cheaper, safer, and faster to build than older nuclear plants, winning support from some environmentalists and a more pro‑nuclear public. Amid an energy crisis and soaring AI‑driven electricity demand, SMRs seem promising, but many critics, rightly, still see them as a dangerous dead end.

The oil security paradox: Every war becomes an oil crisis in a fossil-fuel economy

The war in Iran has made the paradox inescapable. The pursuit of energy security through fossil fuels produced the very disruption it was meant to prevent. Instead, the transition to renewables offers the genuine insulation that oil never can: from global price shocks, from the geopolitical risks embedded in that dependence, and from the carbon emissions driving the climate crisis.