What Bitcoin Did: Is There a Moral Case for Fossil Fuels?
The past few years has seen an explosion of interest in combatting climate change. For investors, the biggest drive has resulted in the ESG movement. With the E standing for environmental, reducing carbon emissions has been a key component of the plan.
However, given how green technologies aren’t ready to replace fossil fuels at the needed scale, many investors are still turning to fossil fuels to meet existing demand.
On the What Bitcoin Did podcast, guest Alex Epstein attempts to answer the question as to whether or not fossil fuels are moral.
With many focused on the environment, fossil fuels have been noted for providing cheap, and reliable energy for a growing economy around the world. It’s been key for reducing extreme poverty in recent decades.
We’re also reaching a point where many starting to question the data and modelling behind climate change projections.
If the data is wrong, we may be making costly mistakes to shift to green energy without needing to. If we’re right, it may already be too late. Either way, it seems that fossil fuels will still have a place for decade to come given strong global demand.
Looking at both the pros and cons of continued fossil fuel use, it’s clear that it still has a place today. The debate may not be over. But for now, the markets are speaking in favor of utilizing all the energy resource society can muster.