We crunched the numbers. It turns out people really want reliable energy and aren't planning on quitting it any time soon.
The American Conservative (12/27/23) column: "In investment, the adage has it, the trend is your friend. If the trend is with you—think internet stocks in the last three decades—chances are, if you stay with the herd of bulls, you’ll make money. So what’s the trend, in 2024 and beyond, for carbon fuels? (Okay, The American Conservative is not known as an investment sheet, and yet every conservative should be familiar with political economy, the self-evident point that investment, up or down—and anything else to do with money—occurs within a political context.) To listen to the words coming out of the COP 28 climate change conference that wrapped up in Dubai on December 12, one might think that the trend for carbon fuels is bearish...We can step back and observe: So long as a person is eating eclairs, there’s no need to take their protestations about a weight-loss diet seriously. In fact, world oil production is also movin’ on up. So is natural gas...To get a measure of resources closer to home, we can look to the Institute for Energy Research, which finds that the U.S. boasts oil reserves totaling 2.9 trillion barrels. At the current price of around $75 bbl, that’s a tad more than $217 trillion. That dollar total is more than six times the U.S. national debt, and about eight times our GDP. Given that much wealth, with deficits and all, is it really to be expected that we’re going to leave it in the ground? Maybe Massachusetts will, but Texas won’t. Indeed, once Americans figure out that the whole country could be like Alaska—where last year each resident received a dividend of $3,284 from the oil-based Alaska Permanent Fund—the pressure to not strand it, to not leave it in the ground will be, shall we say, beyond the power of the greens to shut down."
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