My friend Bob Preston who manages a clean energy investment portfolio for Merrill Lynch, sent the following charts the other day from the work of Jesse H. Ausubel and Paul E. Waggoner at Rockefeller University.
They confirm some long term beliefs of mine:
The history of technological progress is one of increasing decarbonization of primary fuels and cleaning up of waste streams – from animal energy and wood to coal to petroleum to natural gas to electricity to renewables and hydrogen.
The solution to climate concerns, like all the environmental concerns, is not more regulatory burdens and dictates, but solutions encouraging a free prosperous market economy that allows the wealth and prosperity for the luxury of environmental protection that poor and developing countries have never invested in and only wealthy nations have ever been able to afford to pursue. As these charts show, there is a clear link between economic prosperity and decarbonization and reduced pollution.
Hopefully more in the environmental community will both accept and advocate for maintaining this critical linkage between new environmental policy and maintaining real economic prosperity.