03/19/2013 1 Comment
Jeremy Grantham, Chief Investment Strategist for GMO, an Management Firm that oversees more than $100 billion in investments, announced his opposition to the Keystone Pipeline in an interview with Charlie Rose Mar 11, 2013. Grantham is known for having predicted the last several financial crises.
Grantham says that climate change is a numbers issue; the rise of .8oC in temperature is obvious, we can see spring arriving earlier, and know that it took additional carbon in the air to make that happen. Grantham continues, explaining the problem with continuing to burn fossil fuels is that we can only emit 565 gigatons of carbon into the air before world temperatures reach “2oC which is considered the boundary, below which we might limp our way through.” But in fuel reserves there is five times that much, “enough to cook our goose and guarantee our grandchildren starve to death in floods and all.”
Every previous human civilization expanded, then met limits of available resources and collapsed. Grantham describes two gifts that our civilization has that give him hope. The first is our ability to limit birth rates, and the fact that when people get richer, they choose to have fewer children. A shrinking population puts less pressure on finite resources.
The second gift is alternative energy technology, solar, wind, geothermal, new grid, and batteries which give us the ability to “move fairly seamlessly” to using the renewable resource of energy from the sun which never runs out. “If you can capture the sun’s energy, you can keep civilization going.”
Then he added, “Science will not guarantee to save us it will only give us a possible out.”
Listen to the interview at :