In one of my first posts for MasterResource, I discussed a (then) just-published paper in Science magazine by David Battisti and Rosamond Naylor that argued that global warming was fast leading us into agricultural failure and a global food crisis.
I pointed out that this was a naïve analysis that gave short-shrift to our ability to adapt to changing climate conditions. Through technological improvement of farming practices and the development of new crop varieties, farmers have not only been able to keep up with a changing climate, but have also managed to produce ever-greater crop yields.…
Continue ReadingAs many of us have argued for some time, simple economic theory suggests that the government’s push to create “green jobs” will ultimately kill more jobs on net. While the theoretical argument is fully compelling, however, it’s nice to have hard data to show people that this particular theory plays out in reality.
That’s why this study, from the Universidad Rey Juan Carlos in Spain should be kept handy (the report is in English).
After examining Spain’s experience with an aggressive wind-power program, the researchers concluded:…
Continue ReadingA recent article in the New York Times, “Not So Green After All: Alternative Fuel Still a Dalliance for Oil Giants,” chronicled the move away from politically correct (but economically incorrect) wind and solar energy by the oil majors.
Royal Dutch Shell and BP, in particular, recognize wind and solar as what they are: dilute, intermittent energies that are not consumer friendly or economic. And their investment returns in the same have been lackluster. Shell and BP have found out what Exxon Mobil learned in the 1970s.
“Oil giants worldwide are skeptical that President Barack Obama’s plans to move the economy away from petroleum will be successful,” Jad Mouawad wrote in the Times. “Many of the oil companies are sticking to their hydrocarbon business model and some are backing away from commitments to renewable power.”…
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