An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Saturday, August 4, 2012
Paul B. Farrell — Big Oil is Earth’s Public Enemy No. 1
Finally, folks are starting to get it. Fossil fuels aren't scare but much too abundant.
It's not only the environmental costs but the economic costs technological lock-in that believing in a 200 year supply causes.
Fossil fuels are so abundant and cheap (in terms of extraction cost) that people don't want to understand the need for post carbon technology and infrastructure.
The reality is that without the unholy and often criminal alliance of the Auto Industry and Big Oil (see the Street Car Conspiracy) we would have had cheap electric public transportation years ago.
That is just one example of how Big Oil is really anti-electrification and efficiency. Lack of electrification means lack of reusing, recycling, and recovering technologies which translates to massive dumping of waste and more mining.
Don't get me started on issues of Energy, Water, and Transportation Infrastructure and Agriculture policy. I just get so mad that I start throwing things.
The truth is that we have enough resources have most people to live better than they do now with way less damage to the biosphere if idiots would get out the way and let scientists and engineers do their jobs minus the absurd economics and short term thinking.
septeus7 Don't get me started on issues of Energy, Water, and Transportation Infrastructure and Agriculture policy. I just get so mad that I start throwing things. / The truth is that we have enough resources have most people to live better than they do now with way less damage to the biosphere if idiots would get out the way and let scientists and engineers do their jobs minus the absurd economics and short term thinking.
Although I've been going and coming from one position to an other in this (very important) question I agree in general lines with Septeus.
It does not matter if we have reached a plateau of production in oil, the problem is we have abundant NG and coal resources. We could run the world in this troglodyte energy sources for decades.
We have to start using exogenous (heh) supply of energy from the Sun which hasn't been accumulated already in previous geological ages. Otherwise we are adding extra heat to the 'natural' quantity of heating the earth received daily.
It's easy to understand and everyone (well, not big oil off course) would benefit from it (+ it would be more efficient from all point of views).
This is why I think 'commodity vigilantes' (modern version of bond vigilantes?) are doing a favour pushing irrationally the oil prices higher in the long run (this will also force solving balance of payments and currency hoarding issues). Some cost-push inflation in oil may be better in the long run.
Finally, folks are starting to get it. Fossil fuels aren't scare but much too abundant.
ReplyDeleteIt's not only the environmental costs but the economic costs technological lock-in that believing in a 200 year supply causes.
Fossil fuels are so abundant and cheap (in terms of extraction cost) that people don't want to understand the need for post carbon technology and infrastructure.
The reality is that without the unholy and often criminal alliance of the Auto Industry and Big Oil (see the Street Car Conspiracy) we would have had cheap electric public transportation years ago.
That is just one example of how Big Oil is really anti-electrification and efficiency. Lack of electrification means lack of reusing, recycling, and recovering technologies which translates to massive dumping of waste and more mining.
Don't get me started on issues of Energy, Water, and Transportation Infrastructure and Agriculture policy. I just get so mad that I start throwing things.
The truth is that we have enough resources have most people to live better than they do now with way less damage to the biosphere if idiots would get out the way and let scientists and engineers do their jobs minus the absurd economics and short term thinking.
septeus7 Don't get me started on issues of Energy, Water, and Transportation Infrastructure and Agriculture policy. I just get so mad that I start throwing things. / The truth is that we have enough resources have most people to live better than they do now with way less damage to the biosphere if idiots would get out the way and let scientists and engineers do their jobs minus the absurd economics and short term thinking.
ReplyDeleteWhy not do a post or two on it?
Although I've been going and coming from one position to an other in this (very important) question I agree in general lines with Septeus.
ReplyDeleteIt does not matter if we have reached a plateau of production in oil, the problem is we have abundant NG and coal resources. We could run the world in this troglodyte energy sources for decades.
We have to start using exogenous (heh) supply of energy from the Sun which hasn't been accumulated already in previous geological ages. Otherwise we are adding extra heat to the 'natural' quantity of heating the earth received daily.
It's easy to understand and everyone (well, not big oil off course) would benefit from it (+ it would be more efficient from all point of views).
This is why I think 'commodity vigilantes' (modern version of bond vigilantes?) are doing a favour pushing irrationally the oil prices higher in the long run (this will also force solving balance of payments and currency hoarding issues). Some cost-push inflation in oil may be better in the long run.
Let's have BigOil & BigFinance face off in a WWF ring.
ReplyDeleteHell, even cede BigMedia the concession sales.
Just put it on & get it over with, before the collusion starts.