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Remember the choice isn't between dirty oil/gas and a wonderful future of clean/green fuel and no damage to the environment. Transitioning to alternative energ
by tryitnow 15y ago
Remember the choice isn't between dirty oil/gas and a wonderful future of clean/green fuel and no damage to the environment. Transitioning to alternative energy sources is incredibly expensive - it will be a major drain on the economy to do so because alt fuels are still struggling to hit grid parity and we still don't have a serious way to reduce oil consumption for gasoline.
So the choice is really between
1) Oil and gas extraction using new technologies with all the attendant risks (and there many)
2) Forget the new technologies and continue to rely more and more on unstable oppressive regimes (Middle East, Russia, etc)
3) Take a major hit to economic growth and aggressively push alternative fuels.
I would recommend (1). Option (2) leads to greater geopolitical instability and very significant long-term risks. Option (3) will undermine economic growth at a time when there is consensus that growth is a priority.
Obviously, this is grossly simplified, but my general point is that we have a limited option set and in truth, none are very attractive. Three rotten apples, we're starving and we must eat one, let's pick the least rotten one.