"I find it interesting that apart from a few courageous writers who deal with Islam for what it really is, the common theme in reporting today seems to be to challenge the Christian faith. It is not at all surprising that this is happening at the same time that we are witnessing a worldwide crisis in financial and political matters. The economic turmoil that has resulted from living off resources we didn't have and borrowing that which we could not repay is a consequence of our moral indulgence: We have made moral decisions based on a worldview that has no foundation and that is demanding repayment. We are facing bankruptcy of a different kind."
| 1 yr | 5 yrs | 10 yrs | |
|---|---|---|---|
| S&P 500 Index | 30% | 2% | -8% |
| Energy | 17% | 65% | 144% |
| Materials | 56% | 24% | 68% |
| Industrials | 23% | -5% | 15% |
| Consumer Discr. | 45% | -10% | -9% |
| Consumer Staples | 19% | 35% | 58% |
| Health Care | 27% | 16% | 19% |
| Financials | 23% | -45% | -27% |
| Technology | 60% | 12% | -48% |
| Telecommunication | 6% | 7% | -53% |
| Utilities | 10% | 37% | 59% |
"FATIH BIROL, the chief economist of the International Energy Agency (IEA), believes that if no big new discoveries are made, “the output of conventional oil will peak in 2020 if oil demand grows on a business-as-usual basis.” Coming from the band of geologists and former oil-industry hands who believe that the world is facing an imminent shortage of oil, this would be unremarkable. But coming from the IEA, the source of closely watched annual predictions about world energy markets, it is a new and striking claim.
Despite repeated downward revisions in recent years in its forecasts of global oil supply in 2030, the IEA has not until now committed itself to a firm prediction for when oil supplies might cease to grow. Its latest energy outlook, released last month, says only that conventional oil (as opposed to hard-to-extract sources like Canada’s tar sands) is “projected to reach a plateau sometime before” 2030."
This excerpt is from an editorial by Emerson Lynn, publisher of the St. Albans Messenger, which has appeared in his newspaper and at Vermont Tiger. We at VEH endorse his view.
Candidates whose rhetoric panders to 'green' constituencies should be pressed to explain why higher energy costs are good for Vermont's economy. The stark reality is that Vermont Yankee nuclear generated electricity is a very good deal for the state, particularly the beneficial revenue sharing agreement that would run until 2022, if VY is relicensed.
The appeal to 'feel-good' emotions that some people harbor about doing 'something' about global warming is a transparent attempt to solicit votes. The truth is that Vermont Yankee relicensing with fair pricing is the best deal for Vermont, providing both low energy costs and maintaining a minimal carbon footprint.
"...Vermont needs an energy portfolio that includes a robust mix of renewable
energy sources. We also need to continue our focus on conservation. But we also need to be honest about what can be accomplished, and at what costs. Even the advocates understand that Vermont does not currently have the potential to meet its energy needs through renewable energy projects dotted across the state. And they also understand that the price of renewables is considerably above that of Vermont Yankee and Hydro Quebec.
Our gubernatorial wannabes should work from this understanding as well. To shrink from this challenge cheats the debate. It also works in direct contradiction to what is going on in the rest of the world. It’s odd that five Democrats from the liberal state of Vermont are actually pushing – by default – a position that would increase the level of emissions the rest of the world wants to curb."
Posts
All Comments
