Re:Nvidia LHR Lock Officially Cracked Bringing Full Crypto M...
by mort96 on Monday May 09, 2022 @07:51AM
(#31313003)
I don't think it's too interesting to talk about how oil, gas and coal are "limited resources", since we've clearly shown to be good at innovating in methods of extraction. The most interesting aspect to me isn't that we'll run out of oil/gas/coal, but that we'll have destroyed the environment through greenhouse gases long before we run out of those resources.
With this analysis, it makes total sense why it would be cheap. Extracting fossil fuels is cheap and will continue to be so for a long time. The true cost of energy from oil, gas and coal is in the emissions, but those are externalities which aren't paid for by the people who use the energy. The only way increased energy demand would lead to innovation in renewables would be if those externalities were somehow made part of the cost of the energy, such as by a heavy carbon tax. But cryptobros are usually the right-libertarian types who wouldn't be in favor of that.
With this analysis, it makes total sense why it would be cheap. Extracting fossil fuels is cheap and will continue to be so for a long time. The true cost of energy from oil, gas and coal is in the emissions, but those are externalities which aren't paid for by the people who use the energy. The only way increased energy demand would lead to innovation in renewables would be if those externalities were somehow made part of the cost of the energy, such as by a heavy carbon tax. But cryptobros are usually the right-libertarian types who wouldn't be in favor of that.