Regulating carbon? Either way, a ‘world of hurt’

With oil demand slowing down and natural gas prices in the royal crapper, not to mention the denial of permits for all traditional coal-fired power plants, it is beginning to become apparent that the cancer (which began in the financials) has spread into the energy sector.  Global economic markets seem to be in for a ‘world of hurt’ in the coming months.  Not even the $800 billion stimulus package is registering; it’s like throwing a pebble into the ocean during a category 3 hurricane and looking for the ripple.

Natural gas prices are around $4 here in the heart of winter and, traditionally, summer prices experience a fall-off from slower demand.  Oil is not coming back until manufacturing picks up, and that does not appear to be coming anytime soon.  It doesn’t appear likely that any new coal-fired power plants are going to be initiated without some form of clean coal technology built in.  

The oil, coal, and natural gas industries are all coming off extensive boom times during Bush and Cheney’s tenure at the helm, and this has essentially created a surplus for the short term on top of the current slower demand.  Solar is experiencing an oversupply problem and is generally in the same boat; countless start-ups all jumped into the market when oil reached $140+ bbl, but the subsequent crash has left the solar industry spiraling through the same flush cycle.

It can’t help the oil and gas industries that the EPA is considering enforcing the 2007 Supreme Court ruling that designates CO2 a greenhouse gas under The Clean Air Act; but maybe later in the year, Q3 and Q4, solar may begin to see a resurgence.  The future does not look so rosy for fossil fuels, nor humanity for that matter.

The reason for this is that the science behind the relationship between CO2 and global warming is building to a crescendo.  Spencer R. Weart is the director of the Center for History of Physics of the American Institute of Physics in College Park, Maryland.  Originally trained as a physicist, he is now a noted historian specializing in the history of modern physics and geophysics.  All quotes after this point come from the paper highlighted in the next paragraph.

According to his paper, 'The Carbon Dioxide Greenhouse Effect', the actual science behind the feedback loops associated with greenhouse gases really is...

Full article at:  http://www.examiner.com/x-2903-Energy-Examiner