This policy offering by the Republicans is so wrong that it is hard to know where to start. First, we are facing an existential crisis with global warming, but underneath that is another one that folks seem to have put on the shelf – peak fossil fuels. I know we are drilling like crazy, but most of the oil today is cruder than before we hit the bottom of the barrel, and this lower grade of crude is harder and more expensive to process. It is not a coincidence that fracking has become such a big deal, and natural gas is being pushed globally as a “clean” replacement. The reality is that we are literally burning through fossil fuels at a prodigious rate. According to
ZME Science,
At the current rates of production, oil will run out in 53 years, natural gas in 54 years, and coal in 110 years, according to estimates from the 2015 World Energy Outlook study by the International Energy Agency. This forecast is predicated on the assumption that fossil fuels will constitute 59% of the total primary energy demand in 2040, even despite aggressive climate action policies.