Gee we're a bit conflicted in this edition of the Green Investing Report by Conserv-A-Store for the week ending 12/14/12.
The new rise in energy independence of North America led largely by the explosion of fracking-generated gas products has started to put pressure on the OPEC giants and the price of oil and gas energy is falling considerably.
(As we understand it since petroleum products are priced on a world market the price at the USA pump for autos can only go so low due to the pressure larger growth economies can put on the price.)
Since we as perhaps many of you drive a bit for their jobs and recreation this drop at the pump helps the cash in the wallet we must admit.
BUT is it good for the long term economic health of the USA.
We often think conspiratorially that perhaps this fracking phenomenon is the last best gasp by the oil and gas industry to tie us into the non renewable transportation crack they have had us on since the early 1900's. From a technology standpoint it must be admired since it can not be easy to drill into the Earth and remove the thousand year old liquefied carcasses of past biological waste. But all of the technology improvements that have allowed fracking to take place could have and should have been spent on RENEWABLE ENERGY that is energy technologies that are used again and again and again without risk of running out.
We worry that the USA will reach another temporary complacency that yes we've got another silver bullet to solve the energy crisis we experienced in the 70's, and early 21st century.
Some politician who does not accept monies from the oil and gas industry must stand up, be prepared to be burned at the stake, and point out that fracking is working now but it too will be exhausted and then we're back searching for another answer. Would it not be smarter to push Wind, Solar, Geo, Biomass, Tidal, and many other technologies not even discovered to replace the continued USA addiction to oil and gas so perfectly mentioned by the oil President himself GW Bush in a prior State of the Union speech.
We've still never really had a strong politician, President or otherwise design, implement, and sell to the public a place where renewables dominate the energy landscape. They are all to scared to lose the votes and support of the oil and gas industry. Of course since fracking is now in so many states we cannot blame everything on Texas anymore and the fracking $ will affect a larger expanse of the populace and make it harder to show it is just another short term fix.
We referred to the following articles when writing this blog