As the article itself admits in the final paragraph (below), the decreasing returns on fossil fuels are actually a good opportunity for CLEAN GROWTH, i.e. renewable energies. Any country that's first in developing cheap and efficient renewable energy technologies, will be rewarded with massive growth, because it could export this technology worldwide. If it wasn't for the oil industry hampering these developments, it could have happened long ago...
Obama promised this clean growth in his election campaign, but he didn't deliver, as in his other false promises of change. Instead, he allowed the BP oil spill to happen, with his laisser-faire on offshore drilling safety. Chris > It is possible that some new source of cheap and abundant energy might be > developed -- the cost of solar panels could be reduced substantially, for > instance. The same high energy prices that might crimp economic activity > would have the effect of stimulating investment in alternative energy > sources. But there could still be an uncomfortably long period in which the > world has to cope with higher energy costs. That is a headwind the global > economy could do without. _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework
