Larry
2008-03-20 12:00:50
Actually Tom, no we don’t. Making marginal reductions in consumption while demand continues to grow strongly in Asia will have negligible effect. The only thing that can help in the short to medium run is to do what the Chinese are doing and produce motor fuels from non-petroleum feedstocks. Unfortunately, with all of the climate mania out there, no investor in their right mind would ever put money into a plant that requires a 30-year payback, and might be forced to shut down in 10, and quite likely would never even get permitted.
We’re being royally screwed not so much by Saudi royalty, but by all of the NIMBYs and BANANAs out there who resist building anything, regardless of the consequences of inaction. The status quo wins by default.
