Robert L. Bradley Jr. was the guest speaker for TEDA (Texas Economic Development Association) February 17, 2011. Mr. Bradley is founder and CEO of the Institute for Energy Research in Houston, Texas. He previously worked at Enron for 16 years where he served as Director of Public Analysis.
The offshore ‘Permatorium’ and Beyond
The powers in the Department of Interior are going very slow in the wake of the BP event. There is a 90% difference in the number for deep water wells in existence today as opposed to before the BP event. Shallow water wells have fared only slightly better with 30% active today.
The government is committed to solar and wind energies. There re paying bid taxpayer subsidies to these companies. The Texas wind boom is a result of a state mandate signed By governor Bush in 1999. The wind mill business receives huge government subsidies and employees thousands. Texas if one the areas in the United States where Wind energy is effective.
The Department of Interior’s own charts show that in 2030 the sources of energy will be roughly the same as today. Only 15% of the energy used in America comes from a carbon-free energy source. BP wanted to brand itself as the energy company which is the greenest of the major Oil companies.
The world was a green environment for most of the time man has lived here. This all changed in the 1980’s with the introduction of capitalism, science, engineering, coal, and medicine. The quality of life, the length of life, income and population growth of the world were changed forever. W. S. Jevons on his book the Coal Question stated in 1865 “the first great prerequisites of native power is that it shall be wholly at our command. No possible concentration of wind mills could ever power a steel mill. Robert Bryce said “that oil, gas, and coal are so energy dense that they are greener than alternative fuels.
FALLACITY OF FIXITY –
we don’t know how much oil is left. Therefore we can not say how much oil we have left to use.
Resources can be destroyed or reduced by government interference. What has made Houston great is private ownership of the subsoil. Houston is a good example of increased people and industry do no necessarily mean more pollution. Houston has made improvements in air quality and the water in Houston ship channel in the last 20 years. Human are resourceful and will find solutions to problems.
FORECAST OF ENERGY DEMAND
| 2008 | 2030 | |
| Oil | 41% | 40% |
| Nuclear | 8% | 6% |
| Coal | 23% | 26% |
| Gas | 23% | 21% |
| Renewable | 6% | 8% |
CONCLUSION
- 1. Man-qua-government, not nature is the enemy of supply abundance and affordability
- 2. Must move toward private property and capitalistic institutions in resource-rich countries everywhere.
- 3. Climate alarmism is unwarranted – Co2 is not a pollutant of a building block of the biosphere.
Source: Institute for Energy Research
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