Daniel Yergin, the head of Cambridge Energy Research Associates, welcomed former Federal Reserve chief Alan Greenspan to CERA’s annual conference. How fitting to have two of the biggest liars in our current economic structure on the same stage, doubly so when Greenspan said he was amazed at the strength of the U.S. economy in the face of relatively high oil prices.
Mr. Bubble continues to deny any responsibility for the current recession he now admits is “near,” though not here. His housing bubble, by encouraging people to buy McMansions, is contributing to ever more unsustainable energy usage on utilities as well as suburban sprawl. Yergin, the noisiest Peak Oil denier, still hasn’t changed his stance that we’re nowhere near Peak Oil, even as Greenspan’s actions have helped move us closer to the peak itself, if not in its actual plateau area.
Both appear to oppose carbon dioxide hard caps; that’s the best argument yet for supporting them.
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