Will They Ever Admit They Were Wrong?

Two days ago, news came out about a "study" done by "researchers at MIT" who predict "a 'global economic collapse' and 'precipitous population decline' if people continue to consume the world's resources at the current pace is still on track, nearly 40 years after it was first produced" according to the article in Yahoo News. This is the updated version of the famous report from the Club of Rome which predicted the same thing in 1972. Do you think these folks will ever admit they are/were wrong?

Let me explain: the world's resources are being consumed at a rapid pace! That is the message from the prophets of doom. Look at America; we have proven oil reserves of only 20 billion barrels, hardly enough to keep our economy functioning for a decade. But here's the rub; in 1972 when the Club of Rome first issued the warning about overconsumption of resources, the USA had proven oil reserves of about 20 billion barrels. Since then, American oil fields have produced about 150 billion barrels of oil. That's right; our reserves have not increased, but we produced seven and a half times more than the reserves said was all of our oil. Now, with oil from shale, it looks loke recoverable oil in the USA and offshore fields is about 1.4 trillion barrels or 70 times more than the proven reserves. New technology and hard work have increased the available oil reserves to the point where we may soon enter a period of great abundance.

Maybe we should look instead at a resource like copper. This metal is used worldwide and it is a necessary part of economic growth. All the copper in the world has been discovered -- or so the prphets of doom would tell you. Of course, this was the same thing said in 1972. Since that time, enormous deposits have been found in places like Argentina, Indonesia, and elsewhere. There is not even a hint that the world is running out of copper. The same can be said for iron, nickel, and all other manner of resources.

But wait argue the doom and gloom crowd. What about food? Surely, the food will run out soon enough and humanity will starve. Really? Since 1972, we have seen a revolution in agricultural methods, new hybrid seed, new fertilizers, and all sorts of other advances which result in the world currently producing more food per capita than was the case in 1972 with billions fewer people on the planet.

But what about water? That will be our downfall, surely. Of course, there are areas that are running short of water; there is no doubt about that. But we also have huge desalinization plants around the world that did not exist in 1972. Technology has made fresh water available to many more folks than used to be the case.

The real truth is that prophets of doom really are looking to stop technological advancement and economic growth to "protect" the planet. These folks do not seem to understand that it is actually economic growth and technology that protect the planet. Wealthy societies have the assets needed to keep the environment clean. Technology provides workers the ability to produce more from less. In short, economic growth and technological advances means progress for the world, progress against hunger, progress against disease, progress against environmental degradation, and progress against poverty. Perhaps the strangest thing of all on this front is that self styled "progressives" are the ones who are most opposed to actual progress. They want to manage a slow decline rather than producing a better future for all.