Energy is ubiquitous to modern industrial life. It is the fourth factor of production in addition to the textbook triad of land, labor, and capital. Julian Simon coined the term master resource to describe the resource of resources, energy.

Energy as been recognized as a unique driver of economic activity and human betterment for almost two centuries–about as long as carbon-based energies came to be recognized as a sea change from the inherently dilute, unreliable renewable energies of before. The Industrial Revolution was enabled by coal, the energy required by the new machinery, as W. S. Jevons so brilliantly saw in his day.

The quotations below, some classic, resonate as well or better today than ever before. They are as ‘right” as the peak-oil quotations (compiled here and here) have been wrong.…

Ed. Note: The repost of the first post at MasterResource (from 12/26/2007) marks the 16th anniversary of the free market energy blog site. In this period, MR has posted more than 2,700 posts from more than 300 authors.

“… our blog name is inspired by the late Julian Simon (1932–1998). He labeled energy the master resource because it is the resource needed to bring other resources from a state of nature to one of human usefulness. Simon also used the term the ultimate resource to describe human ingenuity.”

We are just getting started here, but some of us veterans of the energy debate from a private property, free-market perspective have teamed together to offer our thoughts on late breaking energy items. When I read my newspapers each day, I have some thoughts that I wish I could share with folks from a historical, worldview perspective.…

” … we have to acknowledge that property rights in climate *cannot* be defined fully and we thus have to find some shared institution for governing the climate commons and managing emissions.” (Kiesling)

“One can think humans are causing the planet to warm but logically and humanely conclude that we should do nothing about it.” (Horwitz)

Lynne Kiesling is an electricity specialist who describes herself as working in the classical liberal tradition. Problem is, she refuses to define what classical liberalism or a free market is in regard to electricity. She instead endorses central government planning for the wholesale grid, among other Statist proposals. [1] In so doing, she ignores how the traditions she espouses argue against her positions (Hayek on central planning, Coase on transaction costs, Public Choice on politicization, etc.).…

“Learning is a process, not a destination. Bret Stephens should reconsider his reconsideration to educate his readers on the benefits of CO2 enrichment and positive weather/climate trends (including global lukewarming). And do it in such a way that instead of trying to fire him, the alarmists have to answer (not duck) the hard questions about their position.”

The intellectual case against climate alarmism and forced energy transformation has always been strong. Recent events have made this case stronger with more data contradicting climate model projections. The statistics of extreme weather events and global (luke)warming are hard to ignore. In addition, the “fat tail” of worst-case, extreme warming have been scaled back in the mainstream literature. All this is good news and an antidote for ‘climate anxiety’.

Given all this (isn’t this typical of neo-Malthusian scares?),…