Archive for May, 2009


Thursday, May 21st, 2009

Hubbard has it exactly backwards.

The first thing we need is public funding of election campaigns which will pave the way for the next thing which is higher energy prices, NOT LOWER.

Good science tells us  global warming stems to a large degree from the burning of fossil fuels.

Unrealistically low prices promote the cavalier use of energy and do nothing to wean us from our disastrous use of fossil fuel.  Higher prices that reflect the real costs of energy would encourage decreased carbon emissions.
Responsible use of energy  will ensure that the next generation does not have to pay energy bills incurred by this generation.

Without a responsible approach to energy use, our kids will face a  world dangerously warmed by our generation’s unwillingness to control our own energy gluttony.

I agree with  NYT writer Tom Friedman:  Gasoline should never go below $4/gal.
Energy should be priced to reflect its real cost.  The use of sustained sources for energy should be actively encouraged.  Carbon and other pollution should be taxed.

The Greenbacker

The last thing we need: The return of high energy prices.

Matthew Hubbard | May 9, 2009

In the press, there is quiet talk of positive signs in the economy. Beyond the good news that the stock market is no longer plummeting, the reasons for this guarded optimism elude me.

There has been a positive trend for the world economy since this time last year, though it is hardly news. Last May, the price of a barrel of crude oil was over $120, and in July it peaked at over $140. There was a time when the rule of thumb was that a gallon of gas would cost about 5% the price of a barrel of crude, but the price increases seen this century mercifully ended that correlation. Even so, crude prices well over $100 a barrel meant a gallon of gas was about $4, and the general economy suffered greatly under that extra burden for the cost of transporting goods and people.