What about Fossil Fuel?

Posted: October 24, 2014 in Economics, Environment, Government, Morality, Politics, Science

What about Fossil Fuel?

Think about it.

There is considerable risk to the consumption of fossil fuels since it has been well established that burning fossil fuels contributes to global warming, a major threat to civilization on Earth. The fossil fuels in the ground that have not been extracted represent a asset on the books of major fossil fuel corporations. Even in a declining demand in the United States, there is a rush via fracking and other extraction methods to get as much as is possible right now. This poses a problem. What do you do with it?

The current effort is to send these fossil fuels over seas to support growing economies there. There is also considerable push back from citizens because of the real likely outcome that burning all these reserves can contribute to increased CO2 and exacerbate the climate problems we face.

One way to put a cap on the speed of this effort and reduce the climate impact is to prohibit the export of fossil fuels from the United States. If there were such a prohibition, then only the fossil fuels needed to meet demand in the United States would be extracted because there is no good way to store the vast amounts current efforts portend. This would have the additional benefit of extending into the indefinite future the benefits of fossil fuels which are used for purposes other than burning in generators and automobiles. If in addition, there was a growth in the use of alternative ways to generate electricity with wind and solar the US demand for fossil fuels would continue to decrease.

There are advantages to the United States. First, we could become totally independent of foreign sources. Second, it would extend the potential long term value of this source of primary wealth. It also postpones the impact of excessive CO2 in the world climate system.

So, I say: Prohibit the exportation of fossil fuels from the United States.

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