Sunday, June 30, 2013

Ugo Bardi on "Plundering the Planet", part III


Fracking, tar sand, shale oil: „immense historical error“ / Short term profit interests decide about investments

With oil prices rising, „unconventional“ oil and gas resources become attractive for investors: tar sands, shale oil and shale gas, which is extracted by a controversial technology called „fracking“. The exploitation of these sources is an „immense historical error“, Bardi says. Fracking might be even more climate-damaging than coal, as it releases Methane, a powerful greenhouse gas. Additonally, groundwater resources in vast areas have already been polluted by fracking, as in the US. Renewable energies are able to deliver much cheaper and cleaner energy – if environmental costs are taken into account. However, the system is not conceived to make such decisions, as it focusses only on short term, immediate profits."

1 comment:

  1. Ugo, Did you ever notice that "plundering the planet" seems to have an "exquisite logic" to it, the use of the profits from past plundering to multiply futur plundering.

    Is that a social policy, or required to serve popular investor interests, or a 5000 year old societal obsession? Or is it just a practice that seemed to work a couple hundred years ago and became the general business, professional and government practice to regulate and maintain for maximum growth?



Ugo Bardi is a member of the Club of Rome and the author of "Extracted: how the quest for mineral resources is plundering the Planet" (Chelsea Green 2014). His most recent book is "The Seneca Effect" (Springer 2017)