Progress: Canadian Senate Listens to Global Warming Skeptics
Back in the ’70s, during the days of the Middle East oil embargo, many environmental and industry “experts” were projecting “depletion” of worldwide oil reserves by 2000 and 2010. And it could well have been, if capitalistic “greed” and competition had not driven the oil industry to find new fields, continually improve oil and gas extraction methods, create shale oil production and other methods to maintain energy supply levels. This was done by private industry competing for a resource for which there was a high demand – no government subsidies, just good ol’ capitalism. Presently our “renewable” sources of energy are only competitive under government subsidies, also known as crony capitalism (Solyndra and ethanol as an example). One of the problems with subsidizing alternate, non-competitive sources of energy is that it actually breeds technological stagnation. Why be creative, inventive and improve when you have a steady source of taxpayer money availabe?
