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Alaskan Natural Gas
The Christian Science Monitor reports that the oil companies have quite some difficulty exploiting natural gas resources in Alaska, despite the deal Governor Frank Murkowski struck with BP, Exxon Mobil, and ConocoPhillips last year.
One Response to “Alaskan Natural Gas”
This quote from Hirsch addresses one of the primary problems with the pure free market philosophy expressed by some: “The market is moving into a number of these things but at a rate which is determined by risk and public perception,” he told reporters. “The character of this problem is so large and time-consuming and difficult that we’ve got to move away from business as usual and move to a crash program, otherwise we are not going to be able to replace or save the volumes necessary.”.
The problem is very simple. The market is a feedback system. It will not anticipate problems. When we are faced with a situation where if you wait for the market to step up to the plate then it will be too late to avoid severe problems because of the lag between recognition of a problem of this level and finding a solution.
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