"Firstly - and this is important - there is no energy shortage. There are sufficient energy resources to meet global needs far into the future. "Secondly, a time frame of 30 years is entirely too long to permit rapid responses to the developments we will see on the energy markets going forward as more and more developing nations seek to meet their increasing energy demands. "The challenge then is essentially one of assuring adequate investment in new energy resources - in alternative energy sources as well, of course, but fossil fuels will remain the main source of energy far into the future. "Both these aims are best achieved by allowing the markets to function without interference from cumbersome bureaucratic regulation - which is naturally less efficient and less able to respond dynamically to rapidly evolving market conditions."
"Secondly, a time frame of 30 years is entirely too long to permit rapid responses to the developments we will see on the energy markets going forward as more and more developing nations seek to meet their increasing energy demands.
"The challenge then is essentially one of assuring adequate investment in new energy resources - in alternative energy sources as well, of course, but fossil fuels will remain the main source of energy far into the future.
"Both these aims are best achieved by allowing the markets to function without interference from cumbersome bureaucratic regulation - which is naturally less efficient and less able to respond dynamically to rapidly evolving market conditions."
How am I doing so far? ;-) The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
Those fools want to cut me off at $3M a year base salary and clawbacks on my performance bonus. The nerve! The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
Wanna be on my Board of Directors? The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
Answer: no subsidiary questions, thank you.
"As I indicated before, there are sufficient resources for the next 30 years and beyond. What we cannot predict is whether we will be able to unlock these resources and bring them to market in a timely fashion so as to enable us to satisfy rapidly evolving demand trends within the context of an increasingly dynamic global economy. "Unlocking and delivering these resources will demand significant investments. Left to itself, the market will undertake these investments - but not if it is hindered by overly onerous environmental and other regulatory burdens. "No company is more committed to environmental quality than we are, but excessive regulation is the surest way to choke off economic growth and recovery before it begins."
"Unlocking and delivering these resources will demand significant investments. Left to itself, the market will undertake these investments - but not if it is hindered by overly onerous environmental and other regulatory burdens.
"No company is more committed to environmental quality than we are, but excessive regulation is the surest way to choke off economic growth and recovery before it begins."
Sub-subsidiary: "You seem to miss the point. If efficient allocation of resources depends on "satisfying rapidly evolving demand trends", on what basis can you make long-term forecasts of resource availability?"
"Well, the fact of the matter is that those resources are out there in the ground. The question is how best to extract them so that we can create jobs and prosperity. "The fact is that centralized planning has been conclusively proved much less effective in anticipating and allocating resources than the market. It is not humanly possible to anticipate every possible fluctuation in demand - and fluctuations there will inevitably be as a consequence of our dynamic and vital global economy - but the workings of the market represent the best possible mechanism for resolving these with maximum efficiency within the shortest possible time. "I realize that a quasi-ideology of total regulation has become rather fashionable. I'm sure this type of 'pure theory' is not without its charms in certain intellectual circles, but the fact is that heavy-handed government intervention will handicap market efficiency extremely severely. In practical terms, any policy maker who goes down that road is irresponsibly putting the jobs, well-being and livelihoods of his citizens at great risk."
"The fact is that centralized planning has been conclusively proved much less effective in anticipating and allocating resources than the market. It is not humanly possible to anticipate every possible fluctuation in demand - and fluctuations there will inevitably be as a consequence of our dynamic and vital global economy - but the workings of the market represent the best possible mechanism for resolving these with maximum efficiency within the shortest possible time.
"I realize that a quasi-ideology of total regulation has become rather fashionable. I'm sure this type of 'pure theory' is not without its charms in certain intellectual circles, but the fact is that heavy-handed government intervention will handicap market efficiency extremely severely. In practical terms, any policy maker who goes down that road is irresponsibly putting the jobs, well-being and livelihoods of his citizens at great risk."
I think I'm gonna demand a private jet as well. The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
Seriously, often enough have to translate marketing bullshit, and I find it flows best at this time of day, when my cynicism is at its max and my willingness to suspend belief and take this crap seriously is running on fumes. The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
Berliner (D-Dist. 1) of Potomac has joined Climate Communities, a Washington D.C.-based coalition of cities and counties charged with addressing climate change at a federal level, to push his plan for federally-subsidized home-energy audits. Berliner proposes granting zero-interest $5,000 loans to county homeowners
Berliner proposes granting zero-interest $5,000 loans to county homeowners
Dood! Five grand is chump change. The economy is in CRISIS! Go long on $30K minimum and truly "recapitalize" RE "fair value." What the hell, I'll promise NOT to be my own independent contractor ...
who would then use the loans to pay for a home-energy audit and recommended efficiency improvements, such as solar panels or geothermal heat, or simple fixes like caulking around windows. "It's a game-changer because the homeowner taking the loan no longer has to calculate whether it's a cost-effective loan or not," Berliner said. "The homeowner can take out the loan, get money in their pocket and not worry about it." Homeowners would repay the loans through additional costs pinned to their property taxes. If a homeowner moves, the new owner would be responsible for the remainder of the money owed. Funding for the loans, which would come from the federal government if Berliner gets his way, would be managed by a proposed Montgomery County Home Retrofit Revolving Fund.
"It's a game-changer because the homeowner taking the loan no longer has to calculate whether it's a cost-effective loan or not," Berliner said. "The homeowner can take out the loan, get money in their pocket and not worry about it."
Homeowners would repay the loans through additional costs pinned to their property taxes. If a homeowner moves, the new owner would be responsible for the remainder of the money owed.
Funding for the loans, which would come from the federal government if Berliner gets his way, would be managed by a proposed Montgomery County Home Retrofit Revolving Fund.
Meanwhile, downstream, fossil fuel producers ponder alternatives to foreclosed granite countertops...
Jackasses Solicit Certain Better Ideas | Bloomberg | 12 Jan 2009
President-elect Barack Obama is making "significant" changes to his economic stimulus program, such as boosting energy tax incentives, after members of his own party called elements of the plan inadequate. "I think they're moving very effectively to respond to the issues that we raised the other day," Senator John Kerry, a Massachusetts Democrat, said yesterday after lawmakers met with Obama economic advisers Larry Summers and Jason Furman. Senator Maria Cantwell, a Washington Democrat, said Summers showed a willingness to double tax credits in the bill for renewable energy to more than $20 billion. ...
"I think they're moving very effectively to respond to the issues that we raised the other day," Senator John Kerry, a Massachusetts Democrat, said yesterday after lawmakers met with Obama economic advisers Larry Summers and Jason Furman.
Senator Maria Cantwell, a Washington Democrat, said Summers showed a willingness to double tax credits in the bill for renewable energy to more than $20 billion. ...
Cue Eddie Murphy Raw, Nuttin from nuttin leaves nuttin ...
"We're going to have a collaborative, consultative process with Congress over the next few days," Obama said yesterday on ABC's "This Week" program. "If people have better ideas on certain provisions," the president-elect said, "we welcome that." ... Cantwell said senators are discussing allowing unprofitable [?!] solar and wind energy producers to cash in tax credits they otherwise wouldn't be able to use until they become taxpayers. Senators are also considering whether to make the credits tradable, she said.
Cantwell said senators are discussing allowing unprofitable [?!] solar and wind energy producers to cash in tax credits they otherwise wouldn't be able to use until they become taxpayers. Senators are also considering whether to make the credits tradable, she said.
