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Does Climate Change Worry You? How About Insurance To Cover Its Consequences?

With private investment in green energy down 34 percent between 2011 and 2012, proponents of subsidies for R&D struggle to make their case. For example, former Secretary of State George Shultz recently defended subsidies as a necessary “insurance policy” against the catastrophic consequences of climate change. Mr. Shultz is correct in calling for insurance againstContinue reading “Does Climate Change Worry You? How About Insurance To Cover Its Consequences?”

Why It’s Safer to Drill in the ‘Backyard’

As oil continues to gush from BP’s Macondo well and politicians posture, it is time for us to ask why we are drilling in such risky places when there is oil available elsewhere. The answer lies in the mantra NIMBY—”not in my back yard.” BP was drilling for oil in 5,000 feet of water inContinue reading “Why It’s Safer to Drill in the ‘Backyard’”