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The market can and will not fix this. Thats the whole point. There are so many negative externalities associated with oil and all its derivative products (gasol
by revelation 14y ago
The market can and will not fix this. Thats the whole point. There are so many negative externalities associated with oil and all its derivative products (gasoline, combustion engine cars) that are not currently compensated for through taxes or the market. It's essentially an ongoing trillion dollar subvention, and "good government money" has been making up for it all along.
Many of these externalities are impossible to account for, even if we would be willing to do so. Leaded gasoline contributes to a rise in lead levels; lead causes mental retardation. What is the correct price to pay for inhibiting the mental capacity of whole generations?