The only good use of fossil fuels

Roy Spencer's opinions on Climate Change are highly debatable, to say the least. But, on this point, I think he got it right. The only good use for fossil fuels is to use them to replace fossil fuels. 
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from Planet3.0 | Beyond Sustainability by Michael Tobis

Roy Spencer came up with this rather counterintuitive suggestion in an interview with Catholic Online:

COL: Let’s say tomorrow, evidence is found that proves to everyone that global warming as a result of human released emissions of CO2 and methane, is real. What would you suggest we do?

SPENCER: I would say we need to grow the economy as fast as possible, in order to afford the extra R&D necessary to develop new energy technologies. Current solar and wind technologies are too expensive, unreliable, and can only replace a small fraction of our energy needs. Since the economy runs on inexpensive energy, in order to grow the economy we will need to use fossil fuels to create that extra wealth. In other words, we will need to burn even more fossil fuels in order to find replacements for fossil fuels.

h/t Brian Angliss

The greatest misallocation of resources in human history.

Think of invading Russia in winter, of the Spanish Invincible Armada, of the US highway system, of the Pentagon budget, and of developing the Ford Edsel. Well, these were peanuts in comparison of what we are doing now

From "carbon tracker"

Unburnable carbon 2013: Wasted capital and stranded assets

This new research from Carbon Tracker and the Grantham Research Institute on Climate Change and the Environment at LSE calls for regulators, governments and investors to re-evaluate energy business models against carbon budgets, to prevent $6trillion carbon bubble in the next decade.

Unburnable carbon 2013: Wasted capital and stranded assets has revealed that fossil fuel reserves already far exceed the carbon budget to avoid global warming of 2°C, but in spite of this, spent $674billion last year to find and develop new potentially stranded assets.


read the whole post on carbon tracker...