Friday, August 9, 2013
The greatest misallocation of resources in human history
Posted by Ugo Bardi
Excerpt from Michael Klare's "How to fry a planet"
According to the International Energy Agency (IEA), an inter-governmental research organization based in Paris, cumulative worldwide investment in new fossil-fuel extraction and processing will total an estimated $22.87 trillion between 2012 and 2035, while investment in renewables, hydropower, and nuclear energy will amount to only $7.32 trillion. In these years, investment in oil alone, at an estimated $10.32 trillion, is expected to exceed spending on wind, solar, geothermal, biofuels, hydro, nuclear, and every other form of renewable energy combined.
(see also a previous post on "The Frog")