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Dropping Fossil Fuels For Green Energy Would Be Foolish
Investors.com ^ | April 16, 2012 | Editorial

Posted on 04/16/2012 3:59:38 PM PDT by Oldeconomybuyer

Barack Obama has been promising a green future since before he was president. While we might one day be powered by renewable energy, there's no reason to rush it. Fossil fuels are still abundant, reliable and cheap.

Roughly 85% of our domestic energy is provided by fossil fuels. They generate more than 96% of the energy used in transportation and about 67% of the electricity we consume.

Despite promises and commands from the Obama administration — the president pledged in 2009 to cut oil consumption 35% by 2030, for instance — these ratios aren't going to change much in coming decades.

The International Energy Agency, based in Paris — not Paris, Texas — predicted in November 2008 that from until 2030, fossil fuels will account for almost 80% of the increased global energy demand.

Oil, said the IEA, will remain the single-largest fuel source, while demand for coal will grow 61% during the period, its share of total energy demand expanding from 26% to 29%.

Washington's own Energy Information Institute projects that global oil consumption will increase by a quarter until 2030 while natural gas consumption will grow by 46% and coal by 49%.

The reason that green energy will still be a minor player in coming decades is due to the great advantages of fossil fuels. They are plentiful, and they are much cheaper and more reliable than renewables.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: 2012; climatechange; drillheredrillnow; energy; envirofascism; failure; globalwarming; globalwarminghoax; greenfraud; obama; oil; socialism; solyndra; thegreenlie
"Foolish" is a good way to describe President Marxist.
1 posted on 04/16/2012 3:59:49 PM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

The big secret is there is no green energy. It’s all a cover for them to money launder using these companies.


2 posted on 04/16/2012 4:23:13 PM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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