The Essentials for the Necessary Transition to a Renewable Energy Economy

Fossil fuels are going to disappear, whether we like it or not. Petroleum, natural gas, and coal are becoming scarcer, harder to extract and a greater danger to the global climate. If we proceed with business-as-usual, energy companies will take advantage of increasing scarcity to dominate the world economy by vacuuming up more money from the 99%. They will be able to ally with military and financial institutions to construct an energy-military-financial complex that could eventually reduce most of the rest of us to a form of debt peonage. On the other hand, if we could possibly elect a government that does what governments do best – build infrastructure – we can avoid a world of global warming and economic collapse by building enough wind farms, solar panels, and geothermal systems to power our economy and ignite a sustainable, broad-based period of economic growth. Of course, this will require a sea-change in the direction of the political system, along the lines of the Occupy movement, but there is too much at stake to throw up our hands in despair.

The unfolding energy drama presents progressives with several dilemmas. Some are suspicious that oil scarcity can be used as a ruse by the oil companies and speculators to spike prices. Roger Altman recently argued that a larger supply of fossil fuels will lead to less international tension. More generally, progressives sometimes fear that advocating for less oil use will be seen by the public as an attack on the American Dream of a car in every garage and a single family home for every family.

But in addition to problems of scarcity and extraction, fossil fuels are bringing us towards extremely dangerous climate change. We need to have some answers or else the Right will simply keep up with the chant of “Drill baby drill.” It's time to counter with, “Build, build, build!"

Dirty fuels Create an Unsustainable economy

The question of the future of the supply of fossil fuels is not an easy one to answer. Oil producing nations, for instance, are not at all transparent about their supplies. Technologies constantly change, and so do environmental hazards. However, if we look at the current state of fossil fuel industries, it should be clear that we are in trouble.

1) Natural gas. Natural gas production is being kept alive by the development of hyrdrofracturing technology, or “fracking." As AlterNet has reported, an official with New York State stated that fracking will contaminate water supplies. His is only the most recent statement of a widespread concern about the dangers of this new practice. France has temporarily banned fracking, and New York State is considering how to proceed, but one would hope that the possibility of making New York City uninhabitable because of contaminated water would focus minds considerably.

Beyond environmental concerns, the corporate hype surrounding fracking as a “game changer” is false. Even the Energy Information Administration, generally a cheerleader for the industry, predicts that with fracking American natural gas production will increase by only 31 per cent by 2035. That increase probably won’t even cover growth of the economy, and even so there is talk of exporting natural gas, which will decrease the amount available for domestic use even further. The problem is one that is endemic to the current fossil fuel industry – the conventional methods of extraction are leading to precipitous drops in production as fields are sucked dry, so extreme extraction is the only route left.

2) Oil. The environmental situation is at least as bad in the case of petroleum production, as we saw in the Gulf of Mexico in 2010. Despite industry trumpeting of new technological breakthroughs, the underlying fact is this: oil companies would not be oil-fracking, drilling multi-mile pipes underwater, exploring the Arctic and cooking tar sands if they could do what they did for the first 100 years of the oil age -- drill into pressurized deposits of oil that are conveniently situated below solid, dry, accessible land. The energy gained compared to the energy needed to discover oil has collapsed from 1200 to 5 in the last 100 years. By contrast, wind energy now returns 25 times the energy needed to provide it.