Our need for hydrocarbon and nuclear industries is growing

Colin McInnes writes in The Herald Scotland

There’s a new meme running wild on the internet.

The idea, spread virally, goes something like this: The world’s energy majors are valued by the market on the basis that coal, oil and gas reserves can be turned into real economic value, making them an attractive punt for investors. … If it bursts, investors will lose their shirt.

But there are two problems with this argument. First, as economist Richard Tol points out, from the valuation of coal, oil and gas companies it’s clear that the market expects us to be burning fossil fuels for some time to come. …

However, a second, largely ignored point is this: We don’t extract hydrocarbon fossil fuels for their carbon, we extract them for hydrogen.  …

Read it all at The Herald Scotland or Colin McInnes’ Perpetual Motion blog.

It’s quite unsurprising that FUD (fear, uncertainty and doubt) is being used to dissuade the use of cheap, abundant and available resources to support the well-being of modern life.

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