Search This Blog

Thursday, May 08, 2014

All Benefit At No Cost


Wastewater disposal may trigger quakes at a greater distance than previously thought
San Francisco CA (SPX) May 08, 2014
...According to the U.S. Geological Survey (USGS), an average rate of 100 earthquakes per year above a magnitude 3.0 occurred in the three years from 2010-2012, compared with an average rate of 21 events per year observed from 1967-2000...

Once again we see the acute inability to forecast the downside costs; just as in the Keystone Pipeline, just as in Exxon Valdez, the list goes on.
There is even no attempt on the part of Industry at a Bayesian probability analysis of the social costs. Politicians do not even know what "probability" means.

This is why the Keystone Pipeline is:

1) assured 100% of having numerous leaks, and

2) when they happen, adequate remedial measures will not be in place, and

3) clean-up will be a cost borne by the taxpayers, effectively a tax on their cheap energy.


No comments: