The result is indisputable: humanity is not entering a period that will be dominated by renewables. Instead, it is pioneering the third great carbon era, the Age of Unconventional Oil and Gas.
That we are embarking on a new carbon era is increasingly evident and should unnerve us all. Hydro-fracking — the use of high-pressure water columns to shatter underground shale formations and liberate the oil and natural gas supplies trapped within them — is being undertaken in ever more regions of the United States and in a growing number of foreign countries. In the meantime, the exploitation of carbon-dirty heavy oil and tar sands formations is accelerating in Canada, Venezuela, and elsewhere.
It’s true that ever more wind farms and solar arrays are being built, but here’s the kicker: investment in unconventional fossil-fuel extraction and distribution is now expected to outpace spending on renewables by a ratio of at least three-to-one in the decades ahead.