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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: arun gera who wrote (88424)	11/4/2007 3:49:19 PM
From: GST	Respond to of 110194

Thousands of scientists have been looking at this from every possible angle -- the International Geosphere Biosphere group for example worked on this under the auspices of the Swedish Academy of Sciences over the past 20 years -- so on a basic "what is the science" level I don't expect this to be a discussion where we are likely to resolve the issue with a couple of "insights". From a policy standpoint though, I think the concern over growth is not whether resources can be found, rather the concern is that we have up till now been more or less indifferent to greenhouse gases and this is something we now need to factor into our policies. The pace of innovation is starting to pick up, but the politics of our demand for "cheap" energy cause us to seek "cheap oil" solutions when cheap oil solutions are more a part of the problem than part of the solution. You would see a far more rapid transformation of the overall complex of energy use if oil keeps going up in price - and I think that is a good thing. I would rather we doubled the price of oil on our own and then scaled back its use, rather than ship trillions of dollars to oil producers coffers and then spend trillions sending our military overseas to protect our access to those "cheap" carbon intensive resource use patterns. I want to see China and India achieve their full potential, not to mention other parts of the world -- and this is something that is really gathering momentum as we speak -- but I also want to see innovation in the energy sector lead the way to make room for future development. The private sector understands this - the government sector is still sucking up to people who don't want to make the effort to change their behavior. In my view we have a failure of political leadership on this issue.