Climate Change Hope and Investment Advice
Posted on April 8, 2016
If you are managing your own portfolio and understand that you should make only long term investments, then get your money out of fossil fuels and nukes ASAP. As a wonderful consequence of spotty support from governments around the world, the cost of solar panels has fallen 10% per year for thirty years. They are now competitive in some remote locations and poised to blow away fossil fuels. If you understand exponential growth you will see how rapidly the future is encroaching on the present.
Meanwhile windpower is on a similar but slower trajectory and is already competitive in oil-rich states like Texas and Kansas. Consequently fossil fuels are going to die and nukes will be close behind. This happened almost too late to save civilization, and the road ahead will be unneccessarily rocky because of rear guard action by Republicans and triangulation by some Democrats, but I believe we are going to stop warming the earth in my kid’s lifetime.
Footnote: Goodbye Miami in any case.
Footnote: Fracking is dead and will never come back. It has already mostly ceased to happen because it is uneconomic. Time to move on to other issues.
Footnote: Unless you are Warren Buffet, you should stop managing your own portfolio and put almost all your money into broad based stock market index funds, but that is a different and unrelated footnote I am required to put in here by the code of economic honesty.