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by refurb
4262 days ago
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I wouldn't be surprised if coal use is a net loss to the economy (i.e. the value of the energy generated by coal is less than the environmental cost of coal use) That doesn't make any sense. Net loss to the economy? If you were to say a net loss overall, including environmental costs, I might agree. |
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The problem is that we don't measure economic activity accurately, because we ignore draw-down of capital (human, natural, or otherwise). Fukushima actually increased Japan's GDP for a quarter, because the damage-response activity gets counted in GDP while the loss of physical capital does not. Fossil fuel use suffers from this problem in two ways: 1) the value of the capital removed from the ground isn't counted (i.e. nobody counts selling off their family furniture as net positive income, but resource-rich countries count selling off oil or minerals as such); 2) the loss of human and environmental capital is ignored (strip mining mountains causes rain to wash away river banks, and that's money directly out of someone's pocket).