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Originally Posted by Frequitude
Great thoughts. To get back to government and not an off topic pure energy economics / climate change debate, you bring up an interesting point. Profit driven corporations controlling O&G extraction is hardly going to bring change. They're legally obligated to maximize profit and the time value of money will almost always dictate a dollar from oil & gas today over a few more dollars from other energy sources at some ambiguous point down the road. That's where government comes in with royalty frameworks and diversification incentives. I am completely onboard with diversification if it means no slowing of oil and gas as a result. I'm pretty sure my stance on the whole matter is to increase royalties (not right now while we're in trouble) and use some of that money to incent other industries. As an aside, if it were me, that industry would be nuclear.
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If you want renewable energy and oil and gas to be on the same playing field, shouldn't the costs associated with oil and gas development like CO2 emissions be incorporated into the profitability of oil and gas extraction?
We have a system now that externalizes all those costs onto society, effectively underwriting oil and gas extraction at the expense of renewable development.