In order to successfully address climate change as a market failure, the oil and gas industry must internalize social and environmental costs involved with producing carbon dioxide -- not be given tax breaks and subsidies for continuing this economically inefficient and environmentally devastating behavior.
On September 23, NYC will host the United Nations Climate Summit, one of the foremost events to address reducing carbon and other greenhouse gas emissions that threaten the quality of life for billions of people. As New York offers a showcase for how to have a vibrant economy and low carbon emissions, it is especially fitting the conference is here.
If we assume that human civilization will continue for at least another 1000 years, then we will eventually arrive at a 100 percent renewable energy system. Whatever you believe about the existing reserves and undiscovered sources of fossil fuels and other combustible or radioactive minerals, they will eventually be exhausted or too expensive to extract.