When it comes to the debate between renewables and fossil fuels, almost everyone is a fanboy or fangirl.
Inevitably, comparisons of power density, EROI, or cost among energy sources turn into a sports competition, with enthusiasts passionately rooting for their preferred energy type. It is tempting to frame the debate as a Biblical contest of good versus evil, where the stakes are nothing less than the fate and future of humanity, wrapped in a veneer of reverence for the environment and the intricate web of life.
Objective and holistic analysis consistently reveals the limitations of renewables. Yet, the unwavering belief in the market and its gospel of growth propels us further down the path of creative destruction.
We have mistakenly left the responsibility of addressing climate change and environmental issues to the market. While markets excel at optimizing short-term profits, they have consistently failed to prioritize the well-being of humanity and the planet, as there is little profit to be made in these crucial areas.
The “all of the above” approach to decarbonization squanders natural resources and capital, allowing us to avoid the harder task of defining our core values. Carbon taxes and carbon trading systems have been implemented in various countries to reduce greenhouse gas emissions and combat climate change. While supporters of these programs cite some successes, global emissions and temperatures continue to rise (Figure 1).
Figure 1. Global temperature has increased +1.5° Celsius (+17%) since 1970. CO2 concentration has increased +96 ppm (+29%) over the same period. Source: Our World in Data, Columbia University, and Labyrinth Consulting Services, Inc. Click on the image to enlarge.
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The Polluter-Pays Principle (PPP) asserts that those responsible for pollution should bear the costs of managing it to prevent harm to human health and the environment. But who exactly are the polluters? Are they the fossil fuel and mining companies, the automobile manufacturers, the utilities generating electric power, or the global transport network of ships, trains, and trucks?
If we genuinely care about the planet, we must acknowledge that reclaiming what the market has taken away can only be achieved through imposing a carbon penalty on the end users of products that pollute the air, land, and water—you and me.
This would instantly quiet the roar of fanboys and fangirls in the stadiums of Earth.
Also by this author:
A Renewable Energy Future Will Collapse the Financial System, 20 January 2024.
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ABOUT THE AUTHOR
Art Berman is Director of Labyrinth Consulting Services, Sugar Land, Texas, and a world-renowned energy consultant with expertise based on over 40 years of experience working as a petroleum geologist. Visit his website, Shattering Energy Myths: One Fact at a Time, and learn more about Art here.
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