What role should exist for oil, coal, and other fossil fuels?
The US economy runs on fossil fuels. They account for about 86 percent of our energy consumption. Renewables, including wind, solar, geothermal, biomass and hydro, make up seven percent, with nuclear making up the rest. That mix will surely change as technology develops and the relative cost of each energy source changes, but what will be the best mix in the future? We don’t know, and neither do the politicians who represent us. We rely heavily on fossil fuels because they provide the most energy at the lowest price, enabling us to spend more of our income on something besides energy bills. To ensure energy prices do not become artificially high and erode our prosperity, our elected officials should follow an “all of the above” energy strategy. That is, they should free our entrepreneurs to explore and develop all possible energy solutions by minimizing governmental barriers. It’s a win-win situation. As entrepreneurs profit from their new inventions, consumers will benefit from new, m
