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2 Comments

    • An Energy Policy That Makes Sense, Revisited [view article]
      Supply and Demand will solve the peak oil problem, if it is a problem, just as it has since the dawn of time. More expensive oil will cause lower use due to a trillion subsitutions made by 5 billion people all over the world for the next 500 years. Smaller, cheaper cars is one example of many. When we ran short of whale oil two centuries ago, did the world end? Supply will be spurred by a thousand ways to make money by creating supply of energy. "Depleted" fields with still half their oil untouched will be reopened. Oil sands and shale EACH containing more hydrocarbons than all the Middle Rast will be tapped. They are already profitable with oil at $80/barrel (which is cheaper on an inflation adjusted basis than in 1974!). Nuclear, conservation, solar, geo, wind, yes, yes, yes, yes, yes. Ethanol, only if you are getting money under the table.

      The only thing really that we as a nation have to fear is the United States Congress. Because they have a monopoly on power, they have the unique ability to frustrate Energy progress, or perhaps even add to the energy crisis they already created by creating a genuine catastrophy. [NOTE: Other catastrophies they have created include primary education (teacher unions law driven), public housing (crime/drug hell-holes), college tuition inflation (tidal subsidies), health uninsured (tax law driven), frivolous lawsuits (tort law driven), massive taxation (you, every one of you readers pays >50% if you count all your direct and indirect taxes), race relations (quotas), Iraq (maybe), Torture Porn/Hollywood (again, laws), Border Non-control (accusations of racist!!), overpaid CEOs (ironically, compensation limit laws) and so on and on. Congress creates most of our biggest problems and headaches we face. The ingenuity and common decency of most Americans then solve them.

      The best we can hope for from Congress, is that they will spend less than half a trillion on subsidies, and will do no damage to the ability of the Engineers and investors to create new sources of energy--then let supply and demand and Adam Smith's invisible hand work its magic. If Congress will only huff and puff, but do no serious regulatory damage, we have a chance. An energy tax to replace taxes on emloyment, investment, ingenuity, risk taking, and growth would be helpful, but not indispensable.

      Good Luck!
      *.*       Jun 05 03:11 PM
    • Tuesday Outlook: Déjà vu All Over Again [view article]
      Lively and funny, thanks. But.....I need ideas....what to buy now in government-denied inflationary environment when commodities have already run up.....?
      Apr 28 10:24 PM
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