“A reliable and affordable supply of energy is absolutely critical to maintaining and expanding economic prosperity where such prosperity already exists and to creating it where it does not.”

– John Holdren, “Memorandum to the President: The Energy-Climate Challenge,” in Donald Kennedy and John Riggs, eds., U.S. Policy and the Global Environment: Memos to the President (Washington, D.C.: The Aspen Institute, 2000), p. 21.

Julian Simon (1932–98) is an inspiration to many of us here at MasterResource. Indeed, this blog is named for Simon’s characterization of energy as the master resource. In honor of Simon, I have reproduced some quotations from the vast literature on that theme.

The primal importance of energy is recognized across the political spectrum as the views of John Holdren, Paul Ehrlich, and Amory Lovins attest. Affordable, reliable energy is thus the starting point for public policy debate.…

In an earlier post at MasterResource, W. S. Jevons (1865) on Coal (Memo to Obama, Part III), the hall-of-fame-economist explained how coal was a godsend to Britain, powering the industrial revolution in a way that renewable energies could not.

I am reminded of Jevons with the headline from the June 17th Guardian, “Carbon capture plans threaten shutdown of all UK coal-fired power stations.” It read in part:

All of Britain’s coal-fired power stations, including Drax, the country’s largest emitter of carbon, could be forced to close down under radical plans unveiled by government today. Ed Miliband, the energy secretary, is proposing to extend his plans to force companies to fit carbon capture and storage technology (CCS) onto new coal plants – as revealed by the Guardian – to cover a dozen existing coal plants.

Last month, our friends over at the Heartland Institute published a front-page lead story in the April, 2009 edition of Environment & Climate News. Alyssia Carducci’s “Palin Energy Plan Receives High Praise” begins:

“Alaska Gov. Sarah Palin (R) has announced an ambitious plan to produce half of the state’s electricity from renewable sources by 2025. Palin’s plan, which empowers local municipalities to identify and develop the most cost-efficient renewable power sources available to them, won immediate praise from environmental groups, consumer groups, and industry.”

This article is yet more evidence that the inexplicable conservative love affair with Sarah Palin remains unrequited—at least, when it comes to economic policy in general and energy policy in particular. But Republicans, as the kids might say, “She’s just not that into you.” Let’s examine the litany of problems with Plain’s approach to energy.…

Each renewable energy, Jevons explained, was either too scarce or too unreliable for the new industrial era. The energy savior was coal, a concentrated, plentiful, storable, and transportable source of energy that was England’s bounty for the world.

There was no going back to renewables. Coal–and that included oil and gas manufactured from coal–was the new master of the master resource of energy in the 18th and 19th centuries. As Jevons stated in the introduction (p. viii) of The Coal Question (1865):…