Skip to main content

View Diary: Open thread for night owls: Michael Klare on How to Fry a Planet (98 comments)

Comment Preferences

  •  I see a possible silver lining in those huge.. (2+ / 0-)
    Recommended by:
    JeffW, Egalitare

    numbers it's costing for "unconventional" energy. (unconventional methods of extraction that is)

    Drilling many 1000's of feet down into the ocean; fracking the land to bits. flattening mountains
    Pollution lawsuits, payouts for clean-up and fines, if the fines & clean-up and only peanuts to BigOil) etc....

    ..Investors may not think so, especially with diminishing returns as the future. A future getting closer at a faster pace than ever before

    estimated $22.87 trillion between 2012 and 2035
    But such conventional oil is disappearing

    The same is true for natural gas, the second most important source of world energy.  

    Despite all the South Dakota gas fracking or the eye on the arctic.

    Sweet crude literally oozing to the surface for the taking is gone.
    Buried energy is now too expensive for the smarter investment in the long term to make sense - and it's becoming more and more risky the deeper down it's dug up

    Renewables don't run out.

    Any smart investment firm is going to have to weight the odds against just one more technological breakthrough in renewables tipping the scale just enough to make all their money spent on a short term diminishing return in buried out-dated short term source of non-renewable carbon energy a losing move.

    Those numbers actually give me hope. Not in Big Oil or Coal or any under earth carbon based extraction industires, but the money behind them.

    At least I hope so.

    P.S. Plus some big invetors may not want to fry their grand kids - rare when it comes to money/business it seems, but there is that hope too

    Thx MB

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site