Coase Colored Glasses

Tuesday, March 22, 2005

Orange peels and fuel.

I found yesterday’s lecture very interesting, and I would have to agree that the human mind is the ultimate resource and we do not give it enough credit. As I was reading the news, I stumbled across this article on how Florida is planning to utilize its orange peel waste to make hydrogen fueling stations. Now I know we have discusses that currently hydrogen is not the most economically sound option, however as we continue to explore other options in energy, we may be able to find an efficient solution.
Personally, I do not think that resource scarcity should scare us. Rather it provides humans with an incentive to be creative and forces us to ultimately come up with a better solution than we started out with. Right now we seem to be obsessed with oil and the ‘lack thereof’, but is their really a scarcity? So we open ANWAR up to drilling, maybe we have to find other methods of extracting oil. The oil scarcity provides us with new incentives to improve, create and develop and that doesn’t concern me in the least.

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