[Editor note: This excerpt from Bradley’s next book, Edison to Enron: Energy Markets and Political Strategies, is part of a five-chapter history of Samuel Insull, the father of the modern power industry.]
President Obama just returned from Copenhagen empty handed. His hometown will not get the 2016 Olympics, or as a representative of the Natural Resources Defense Council’s (NRDC) Chicago operation advertised it, the “Blue Green Olympics.”
Given the science, economics, and politics of the global warming, aka climate change, it can be hoped that Obama–and the heads of all governments around the world–come away ’empty handed’ in Copenhagen in December. No town, city, province, or country should be burdened with energy rationing when consumer-driven, conventional energy has become more sustainable, not less.
The real global issue is economic recovery and growth, which means expanded private property and enhanced market institutions to promote sustainable growth in place of abject poverty and economic underperformance.…
MasterResource continues to progress in its inaugural year. Our free-market energy blog has a top stable of primary writers, and we continue to attract quality guests that desire a unique home for their commentary.
MasterResource is a scholarly advocacy blog dedicated to energy/climate issues. One question we all ask ourselves is: how will this post appear tomorrow, next month, next year, or in a decade? Are we truth-seekers or mere shouters for the moment? We advocate private property rights, voluntary market relations (instead of government coercion), and sound science, but our preference cannot come at the expense of scholarship (the factual record; logical and relevant theory). This is our standard, and we invite comments to this end from our readers. (1)
To date we have had 285 posts from 34 authors and approximately 1,750 comments from nearly 400 individuals.…
The energy policy debate is well informed by history. So many ‘silver bullets’ being proffered by the Obama Brain Trust (‘smartest guys in the room’?) energy interventionists/transformationists are yesterday’s failures. As F. A. Hayek would put it, the Holdren-Chu approach to energy suffers from the ‘fatal conceit’ and cannot expect to be cost-effective in addressing the alleged problem.
Whither the Electric Vehicle
Take the electric vehicle versus the internal combustion engine. The market verdict of a century ago still holds–and for the same reasons. Thomas Edison was correct to pronounce the verdict to Henry Ford in 1896.
Edison himself labored to make batteries more economical for the transportation market, but the problem of weight and poor energy density could not be overcome. A news splash in 1914 by Ford Motor Company of an “experimental” car, the “Ford Electric” that would sell for $900 and have a range of 100 miles, based on Edison’s work, described as “Mr.…