Wednesday, July 6, 2011

If there’s only so much oil and unlimited currency production capacity, could energy demand exceeding supply ignite inflation?

Fossil fuels resemble capital in the bank

A prudent and responsible parent
will use his capital sparingly in order to pass on to his children
as much as possible of his inheritance

A selfish and irresponsible parent will squander it in riotous living
and care not one whit how his offspring will fare

I suggest that this is a good time to think soberly
about our responsibilities to our descendants…
those who will ring out the Fossil Fuel Age

Admiral Hyman Rickover
Father of the Nuclear Navy

No comments: