He argues that they are indispensable for global prosperity, providing low-cost, reliable energy that has lifted billions out of poverty and mitigated climate-related disasters. Epstein's argument rests on three key conclusions:
First, fossil fuels provide unmatched energy reliability. For billions of people lacking access to affordable energy, fossil fuels remain the most cost-effective and dependable source. Unlike intermittent renewables like solar and wind, fossil fuels deliver consistent power essential for industrialization and modern living.
Second, energy abundance drives human flourishing. Cheap, reliable energy powers machines that improve living standards—from medical advancements to agricultural productivity. Epstein highlights how fossil-fueled industrialization has reduced extreme poverty from 42 percent in 1980 to under 10 percent today.
Lastly, climate impacts are manageable. While fossil fuels have contributed to a 1 C rise in global temperatures over 170 years, Epstein contends that human ingenuity enabled by fossil-fueled technology has made societies more resilient. Climate-related disaster deaths have plummeted by 98 percent in the last century due to advancements like irrigation, sturdy infrastructure, and early warning systems....<<<Read More>>>...
