| Economics is often called the dismal science | | | | It cannot halt global overheating. The Obama |
| because of an article written by Thomas Carlyle | | | | administration will hopefully have at least one |
| more than 150 years ago. In it he proposed | | | | qualified, influential scientist, who can debunk the |
| mockingly to reintroduce slavery to control labor | | | | prevailing beliefs in conservation and carbon |
| markets. During modern times, this moniker | | | | taxation. Global overheating can only be stopped |
| proves to be a prophetic choice. Modern | | | | by ending all fossil fuel combustion permanently! |
| economics have, after all, brought us not only | | | | What are the available options? Fossil fuel |
| free markets and unimaginable monetary rewards | | | | reserves with the exception of petroleum are still |
| for the few chosen ones, but have also produced | | | | plentiful. However, petroleum is getting scarce, |
| the great depression of 1931, the world financial | | | | consumption of petroleum is accelerating, and |
| crisis of 2008, and 12 recessions in the intervening | | | | petroleum reserves will run out during the next |
| 75 years. | | | | fifty to seventy years. As long as we burn |
| Just imagine a similar performance record for | | | | petroleum products we add to accumulated |
| airplanes, skyscrapers, nuclear power plants, and | | | | carbon dioxide in our atmosphere. Burning all our |
| bridges! | | | | remaining petroleum reserves will double or triple |
| The financial damages inflicted by systemic | | | | past global warming. |
| deficiencies in our economic infrastructure are | | | | Fortunately, we have access to two energy |
| unbearable and must not be tolerated any longer. | | | | sources that can provide plentiful, affordable, |
| These deficiencies are manmade and are caused | | | | emission-free energy for centuries. These energy |
| by regularly failing institutions. Yet, we not only | | | | resources are sun radiation and nuclear fuels. Sun |
| continue to support these institutions, but bail | | | | energy does not produce any pollutants or |
| them out without conditional provisions that | | | | wastes. Sun energy is inexhaustible. Nuclear fuels |
| prevent them from paying irrational bonuses to | | | | will last at least for another century, are still |
| their management and using the bailout funding | | | | inexpensive, but produce radioactive waste. This |
| for starting the engineering of the next recession, | | | | waste must and can be managed. There is one |
| depression, or financial crisis. Crises are the | | | | unmatched advantage to these two energies; |
| occasions when the chosen cash in. | | | | they will stabilize atmospheric carbon dioxide |
| Obama has committed himself to bring change to | | | | emissions and will end global warming. |
| our country. He has promised to address the | | | | There is one major drawback to these energy |
| lingering energy crisis during his presidency. It now | | | | sources, too. Both energies must be converted |
| appears that he too is following the battle cry of | | | | into energy forms that world economies are |
| the unholy alliance between industry and | | | | accustomed to use. Nuclear fuel can be converted |
| environmental groups and is demanding the | | | | into electricity. Sun energy can be converted into |
| conservation of energy to save the planet. This | | | | electricity and into irreplaceable liquid fuels. |
| demand is not based on scientific facts but on | | | | Why are we not installing facilities for converting |
| belief in dismal science. It also will waste billions of | | | | these savior energies and stop burning fossil |
| dollars spent for doomed-to-fail conservation | | | | fuels? |
| efforts. | | | | The reasons are economical, political, financial, and |
| Energy conservation and Cap and Trade concepts | | | | cultural. A few explanations may be helpful. |
| cannot save our planet from overheating, cannot | | | | Installing a nuclear power plant is expensive and |
| slow sea level rise, cannot prevent climate | | | | may last ten years. Additionally, political and |
| changes, and cannot save animal and plant species | | | | cultural forces in society are trying to prevent the |
| from extinction. However, they will significantly | | | | proliferation of nuclear technologies. |
| increase profits of energy companies and will | | | | Conversion of sun energy into electricity is |
| assure that energy costs will continue their only | | | | technically not as far advanced as nuclear energy |
| occasionally interrupted rise into the sky. | | | | conversion. Well managed efforts for closing |
| In 1997, a comparably small number of | | | | technology gaps can produce needed results in |
| industrialized countries in Europe and across the | | | | less than a decade. Developmental technologies |
| world signed the Kyoto Protocol. The signatories | | | | like wind power conversion and direct conversion |
| to this agreement committed themselves to | | | | of sun energy into electricity can be installed |
| reduce their greenhouse gas discharges and | | | | immediately. Electricity produced with commercially |
| especially their carbon dioxide emissions in future | | | | available conversion equipment will at first be |
| years. Virtually all of these emissions are produced | | | | considerably more expensive than presently |
| by fossil fuel combustion. | | | | generated electricity. A reasonably large number |
| In the years following, the USA, China, India, and | | | | of facilities must be subsidized initially to further |
| many other countries refused to sign because of | | | | advance technologies and reduce equipment costs. |
| the glaring deficiencies of the Kyoto provisions. | | | | Continuing installation activities will also encourage |
| These dissenting countries proved to be right. | | | | development and demonstration of energy |
| The signors of the Kyoto agreements were | | | | storage. |
| absolutely correct on one count; the continuation | | | | Converting sun energy into liquid fuels is still in its |
| of fossil fuel based carbon dioxide emissions will | | | | infancy. Only proper management and funding can |
| destroy our Earth. Unfortunately, their | | | | develop needed technologies in ten to fifteen |
| understanding of energy science was flawed. | | | | years. Initial evaluations indicate that liquid fuels |
| They made the same mistake our economists | | | | converted from sun energy can be produced for |
| continue to make. Continuing with deficit spending | | | | about fifty dollars per barrel. |
| and increasing leverage of financial institutions | | | | Why has this technology not been developed |
| forever cannot save national economies and | | | | earlier? This question is difficult to answer. The |
| prevent financial crises. Similarly, continuing the | | | | question falls into the same dismal category as |
| discharge of fossil fuel emissions forever cannot | | | | inquiries into the causes for the periodic |
| stop global warming and related damages. | | | | recurrence of depressions and financial crises. |
| We must face reality. Conservation can at best | | | | Answers are by definition irrational. |
| slow atmospheric accumulation of carbon dioxide. | | | | |