Monday, February 9, 2015

New Look at Oil Reserves, Renewables and Climate Change

New Look at Oil Reserves, Renewables and Climate Change

There is a long term energy competition battle ahead between renewables and fossil fuels.  Just as the prices for renewable energy sources, mainly solar and wind, have fallen markedly, our irrepressable technolgy advances have enabled us to find vast new oil reserves under our feet.  Check this out to see what we have in billions of barrels:

So, this likely means the prices of gasoline and home heating oil will stay low for some time and it is also likely that Congress will get around to lifting the ban on exporting oil.  Good for the consumer? Yes and very much 'no.'  From an out-of-pocket perspective, lower costs, more disposable income.  From the standpoint of the environment, more oil means more carbon emissions for a longer period of time even considering the ongoing sustainability efforts of large companies and many cities around the world.
It seems we have our feet planted firmly in mid-air on the dilemma of climate change, human activity causation and the profit motive.

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