“Creative destruction results from verdicts at the intersection of supply and demand. Outside of the free market, energy elitism has created a political market, a sub-industry whose activity results from special tax favors, government grants, and/or mandates.”

Creative destruction, a term popularized by Joseph Schumpeter, is the market process whereby bad is eliminated, the better replaces the good, and past performance gives way to new strategies and victors. No firm is forever, and financial loss is a characteristic of capitalism, as is the more used term profit.

Energy is the story of creative destruction. Coal gas and later coal oil replaced a variety of animal and vegetable oils, including whale oil, camphene oil, and stearin oil. Crude (mineral) oil then displaced manufactured (coal) oil, just as later natural gas would displace manufactured (coal) gas.…

Ed. Note: When I was in a bank training program in Houston in 1979 (age 24), I wrote a letter to Senator Phil Gramm very critical of his stance on federal railroad regulation. I picked up the ringing phone a few workdays later to the words ‘This is Phil Gramm…’ Shocking! So with adrenalin going, I answered his letter back to me with an in-depth explanation of my view, which Murray Rothbard published in The Libertarian Forum, July – August, 1980. This was one of my earliest publications and first thoughts on public utility regulation (which have changed little in the last 45 years).

Introduction: Murray N. Rothbard

When Professor Dr. W. Phillip Gramm, an eloquent and hard-hitting champion of free-market economics, was elected to Congress from the 6^th district of Texas, many people thought that Congressman “Phil” Gramm (as he was promptly renamed) would be a mighty force for liberty and the rollback of the State. …

“Many people think that the threat of ‘global warming’ arose only towards the end of the twentieth century…. Climate change, either natural or anthropogenic, has been discussed from the classical age onwards, evolving from the expected benefits of climate engineering to today’s fear of global disaster.”

– Hans von Storch and Nico Stehr, “Climate Change in Perspective,” Nature, June 8, 2000, p. 615

It is all gloom, what Michael Mann cautioned against as “doomism.”[1] Such alarm has been the mainstream narrative—and wrong—since the 1960s. And warnings about how exaggeration can backfire (New York Times: “In Climate Debate, Exaggeration Is a Pitfall“) have been thrown to the wind in the futile, costly pursuit of Net Zero.

This post presents the climate alarm quotations of today with the quotations from Paul Ehrlich and the Club of Rome in the late 1960s/early 1970s for historical perspective.…

“I don’t agree with many (any?) of [Alex Epstein’s] points in his response, and it is conspicuously lacking in arguments about climate itself.”  Tyler Cowen

“It’s sad that a guy as smart as Tyler not only 1) irresponsibly commented on a book he was not willing to read carefully, but also 2) refused to admit any wrongdoing whatsoever.” Alex Epstein

It was distributed on social media by the director of the U.S. Department of Energy’s loan programs office, Jigar Shah, described as “The man in charge of how the US spends $400bn to shift away from fossil fuels.” Shah forwarded Tyler Cowen’s post (at Marginal Revolution) critiquing Alex Epstein’s book, Fossil Future: Why Human Flourishing Requires Using More Oil, Gas, and Coal–Not Less.

A ‘classical liberal’ handing an intellectual gift to a DOE grifter?…