By the way, there is plenty of historical precedent for inflating estimates of reserves and exaggerating the economic viability of extracting them. It's almost the name of the game.
On Mon, Nov 11, 2013 at 9:00 PM, Tom Walker <[email protected]> wrote: > Pure intuition -- based in part on the timing of the unconventional fossil > fuel bonanza (post 2008 financial crisis) and the histrionic > contemptuousness of the petro-boosters (reminiscent of the narcissism of > the Long Term Capital Management hedge funders). > > There is a kind of "greater fool" tone to the petro-boosterism that relies > heavily on ridiculing those chicken littles gullible enough to fall for the > "climate change hoax" or the "peak oil" certainty that we are "running out > of oil." > > > > On Mon, Nov 11, 2013 at 7:08 PM, Gar Lipow <[email protected]> wrote: > >> >> >> >> On Mon, Nov 11, 2013 at 10:44 AM, Tom Walker <[email protected]>wrote: >> >> >>> <...>economic recovery will never have to be demonstrated. These >>> "assets" will never be burned -- or stranded -- simply because they never >>> were assets in the first place, except on paper. >>> >>> >>> An interesting assertion. Pure intuition? Or is there historical or >> empirical evidence. >> >>> On Mon, Nov 11, 2013 at 10:12 AM, Eugene Coyle <[email protected]>wrote: >>> >>>> Those assets will only be stranded if they don't get monetized by being >>>> burned. >>>> >>>> Not burning money, getting money by burning carbon. Is this a great >>>> country or what? >>>> >>>> >>>> On Nov 11, 2013, at 9:32 AM, Tom Walker wrote: >>>> >>>> > The past few weeks have seen a torrent of warnings about the stranded >>>> asset "carbon bubble." >>>> > >>>> > >>>> http://online.wsj.com/news/articles/SB10001424052702304655104579163663464339836 >>>> > >>>> http://www.theguardian.com/environment/2013/nov/01/gore-warns-carbon-bubble >>>> > >>>> http://www.fool.ca/2013/11/08/how-safe-is-your-portfolio-from-the-carbon-bubble/ >>>> > http://www.cnbc.com/id/101120966 >>>> > http://ensia.com/voices/the-other-reason-for-divestment/ >>>> > >>>> http://www.newscientist.com/article/mg22029415.700-an-oil-crash-is-on-its-way-and-we-should-be-ready.html?full=true#.UoArMvnkuR3 >>>> > >>>> > >>>> > >>>> > >>>> > >>>> > On Mon, Nov 11, 2013 at 7:14 AM, Louis Proyect <[email protected]> >>>> wrote: >>>> > When, on May 10, 2013, scientists at Mauna Loa Observatory on the big >>>> > island of Hawaii announced that global CO2 emissions had crossed a >>>> > threshold at 400 parts per million for the first time in millions of >>>> > years, a sense of dread spread around the world - not only among >>>> climate >>>> > scientists. >>>> > >>>> > CO2 emissions have been relentlessly climbing since Charles David >>>> > Keeling first set up his tracking station near the summit of Mauna Loa >>>> > Observatory in 1958 to monitor average daily global CO2 levels. At >>>> that >>>> > time, CO2 concentrations registered 315ppm. CO2 emissions and >>>> > atmospheric concentrations have been climbing ever since and, as the >>>> > records show, temperatures rises will follow. For all the climate >>>> > summits, the promises of "voluntary restraint," the carbon trading and >>>> > carbon taxes, the growth of CO2 emissions and atmospheric >>>> concentrations >>>> > has not just been relentless, it has been accelerating in what >>>> > scientists have dubbed the “Keeling Curve." >>>> > >>>> > In the early 1960s, CO2ppm concentrations in the atmosphere grew by >>>> > 0.7ppm per year. In recent decades, especially as China has >>>> > industrialized, the growth rate has tripled to 2.1ppm per year. In >>>> just >>>> > the first 17 weeks of 2013, CO2 levels jumped by 2.74ppm compared to >>>> > last year -- "the biggest increase since benchmark monitoring stations >>>> > high on the Hawaiian volcano of Mauna Loa began taking measurements in >>>> > 1958."[1] Carbon concentrations have not been this high since the >>>> > Pliocene period, between 3 million and 5 million years ago, when >>>> global >>>> > average temperatures were 3 degrees or 4 degrees Centigrade hotter >>>> than >>>> > today, the Arctic was ice-free, sea levels were about 40 meters >>>> higher, >>>> > jungles covered northern Canada and Florida was under water - along >>>> with >>>> > coastal locations we now call New York City, London, Shanghai, Hong >>>> > Kong, Sydney and many others. >>>> > >>>> > Crossing this threshold has fueled fears that we are fast approaching >>>> > "tipping points" - melting of the subarctic tundra or thawing and >>>> > releasing the vast quantities of methane in the Arctic sea bottom - >>>> that >>>> > will accelerate global warming beyond any human capacity to stop it: >>>> "I >>>> > wish it weren't true, but it looks like the world is going to blow >>>> > through the 400-ppm level without losing a beat," said Scripps >>>> Institute >>>> > geochemist Ralph Keeling, whose father, Charles, set up the first >>>> > monitoring stations in 1958: "At this pace, we'll hit 450 ppm within a >>>> > few decades." >>>> > >>>> > "It feels like the inevitable march toward disaster," said Maureen E. >>>> > Raymo, a scientist at the Lamont-Doherty Earth Observatory, a unit of >>>> > Columbia University.[2] >>>> > >>>> > full: >>>> > >>>> http://truth-out.org/opinion/item/19872-capitalism-and-the-destruction-of-life-on-earth-six-theses-on-saving-the-humans >>>> > _______________________________________________ >>>> > pen-l mailing list >>>> > [email protected] >>>> > https://lists.csuchico.edu/mailman/listinfo/pen-l >>>> > >>>> > >>>> > >>>> > -- >>>> > Cheers, >>>> > >>>> > Tom Walker (Sandwichman) >>>> > _______________________________________________ >>>> > pen-l mailing list >>>> > [email protected] >>>> > https://lists.csuchico.edu/mailman/listinfo/pen-l >>>> >>>> _______________________________________________ >>>> pen-l mailing list >>>> [email protected] >>>> https://lists.csuchico.edu/mailman/listinfo/pen-l >>>> >>> >>> >>> >>> -- >>> Cheers, >>> >>> Tom Walker (Sandwichman) >>> >>> _______________________________________________ >>> pen-l mailing list >>> [email protected] >>> https://lists.csuchico.edu/mailman/listinfo/pen-l >>> >>> >> >> >> -- >> Facebook: Gar Lipow Twitter: GarLipow >> Solving the Climate Crisis web page: SolvingTheClimateCrisis.com >> Grist Blog: http://grist.org/author/gar-lipow/ >> Online technical reference: http://www.nohairshirts.com >> >> _______________________________________________ >> pen-l mailing list >> [email protected] >> https://lists.csuchico.edu/mailman/listinfo/pen-l >> >> > > > -- > Cheers, > > Tom Walker (Sandwichman) > -- Cheers, Tom Walker (Sandwichman)
_______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
