Monday, January 5, 2015
On the Federal Government and Energy
The three worst energy sources over the past 150 years (by far) are wind, ethanol, and solar (high costs, low efficiency levels, low power density levels, high resource intensity levels, etc.) and yet this is what the U.S. government has been subsidizing up the poop-shoot for decades now. And not only is this bad economics and dreadful science, it's a total misunderstanding of how the human mind works. Yes, there is a finite amount of oil, natural gas (though Robert Bryce has concluded there to be over 30,000 trillion cubic feet of the stuff that we can potentially tap as of now), and coal in a general sense (and to our present level of understanding) but this doesn't take into account the fact that through innovation (who could have predicted the shale oil phenomenon 50 years ago), ingenuity, the discovery of substitutes, etc. we've probably and in actuality only scratched the surface. I mean, I know that these crazy environmentalists/statists think that after thousands of years of human life being made better we're suddenly going to hit the wall and turn into cavemen again (unless, that is, we follow them) but does anybody else really think that?
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