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Everything Liberals Have Told Us About Energy Is Wrong
Federalist ^ | December 2, 2014 | David Harsanyi

Posted on 12/02/2014 12:13:19 PM PST by george76

In a chilling 2010 column, Paul Krugman declared: “peak oil has arrived.”

So it’s really not surprising that the national average for a gallon of gas has fallen to $2.77 this week – in 10 states it was under $2.60 – and analysts predict we’re going to dip below the two-dollar mark soon. U.S. oil is down to $75 a barrel, a drop of more than $30 from the 52-week high.

Meanwhile, the Institute for Energy Research estimates that we have enough natural gas in the U.S. to meet electricity needs for around 575 years at current fuel demand and to fuel homes heated by natural gas for 857 years or so – because we have more gas than Russia, Iran, Qatar and Saudi Arabia combined.

With prices returning to ordinary levels and a few centuries’ worth of fossil fuels on tap, this is a good time to remind ourselves that nearly every warning the Left has peddled about an impending energy crisis over the past 30 to 40 years has turned out to be wrong. And none of them are more wrong than the Malthusian idea that says we’re running out of oil.

...

As Steven Chu explained in 2008, “Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.” .. Obama conceded he favored a “gradual adjustment” in this direction. ... But after six years of trying, we learned that the laws of economics can’t be circumvented. Which is great news for consumers, bad news for progressives.

(Excerpt) Read more at thefederalist.com ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: energy; gas; krugman; liberals; oil; paulkrugman; peakoil
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1 posted on 12/02/2014 12:13:19 PM PST by george76
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To: george76

So why is it liberals think printing fiat currency lasts forever, but continuously discovered and bolstered hard commodities will vanish hundreds of years before its time?


2 posted on 12/02/2014 12:15:41 PM PST by Crazieman (Article V or National Divorce. The only solutions now.)
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To: george76

Liberals are wrong on everything.


3 posted on 12/02/2014 12:19:23 PM PST by Blood of Tyrants (Good Muslims, like good Nazis or good liberals, are terrible human beings.)
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To: george76

$75 a barrel?

Try $67


4 posted on 12/02/2014 12:20:53 PM PST by ButThreeLeftsDo (Plea$e $upport Free Republic.)
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To: george76

I watch a lot of daytime biz tv (CNBC, FBN, Bloomberg) and none of the “experts” were predicting this decline.

It’s interesting. Krugman: LMAO


5 posted on 12/02/2014 12:23:32 PM PST by nascarnation (Impeach, Convict, Deport)
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To: ButThreeLeftsDo

Wait a little... $47.00


6 posted on 12/02/2014 12:27:31 PM PST by Blackirish
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To: george76

(D) - Pres Jimmy Carter started the propaganda lie that we were running out of gas.


7 posted on 12/02/2014 12:29:43 PM PST by SandRat (Duty - Honor - Country! What else needs said?)
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To: george76

The basis of the explanation is that

ENERGY = LIFE

And the left is inherently a death cult.


8 posted on 12/02/2014 12:30:25 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: SandRat

9 posted on 12/02/2014 12:30:37 PM PST by nascarnation (Impeach, Convict, Deport)
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To: Blackirish

I’m gonna need about tree fiddy.


10 posted on 12/02/2014 12:30:58 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: george76

Let me guess....

Mentioning “peak Oil!” is now a racist code-word for racists that hate the black president, right?


11 posted on 12/02/2014 12:31:24 PM PST by tcrlaf (They told me it could never happen in America. And then it did....)
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To: george76

Krugman will take credit that government spending worked to lower fuel prices.


12 posted on 12/02/2014 12:34:42 PM PST by Raycpa
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To: george76

Krugman became an economist right after he failed freshman calculus, physics, and chemistry.

Had he been just slightly more stupid, he’d have been an ideal guest on CNN.

Oh, wait.


13 posted on 12/02/2014 12:36:59 PM PST by Da Coyote
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To: Blood of Tyrants

Liberals are wrong on everything. Yep and they swear by it too. What’s that about doing something over and over hoping for a different result - insanity? Yep that’s them too.


14 posted on 12/02/2014 12:39:12 PM PST by Bitsy
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To: george76
Krugman is one of the most brilliant individuals to ever walk the planet. If you doubt this, just ask him and he'll set you straight.
15 posted on 12/02/2014 12:53:38 PM PST by JPG (The GOPe will always find a way to surrender)
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To: george76

Is the sky blue?
Is water wet?
Is gravity intact?
Do Liberals lie?..................


16 posted on 12/02/2014 12:58:22 PM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: JPG

Like most leftist elitists, he doesn’t need anyone to ask — he’ll be quite willing to expound on his purported genius whether someone asks or not.


17 posted on 12/02/2014 1:06:27 PM PST by Bob (Violence in islam? That's not a bug; it's a feature.)
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To: george76

“About 575 years” - y’know, give or take...This is making enviro heads explode and I love it.


18 posted on 12/02/2014 1:09:28 PM PST by jagusafr (the American Trinity (Liberty, In G0D We Trust, E Pluribus Unum))
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To: george76

Leftists are always wrong, as Ronald Reagan even noticed


19 posted on 12/02/2014 1:15:45 PM PST by GeronL (Vote for Conservatives not for Republicans)
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To: george76

Problem is, oil prices are no longer the most important factor.

The number of operable refineries has dropped by over half since 1985.


20 posted on 12/02/2014 1:28:20 PM PST by Ophiucus
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