October 20, 2009
Grist.org
A new report from the National Research Council on the “hidden costs of energy” is, frankly, stunning. In a sane world, it would be headline news.
Producing and using energy imposes all sorts of costs on public health, crop yields, ecosystems, recreation, educational performance ... the list goes on. Many of these costs don’t end up reflected in the market price of energy; consumers don’t see them or factor them into purchasing decisions. They are hidden, paid indirectly through, for example, health-care spending or environmental-remediation costs. Such costs are external to energy markets—externalities, as economists call them—and they represent an enormous subsidy to the dirtiest sources of energy.
Read the rest of the article HERE*Posted by Shelby. "I think the concept of externalities is one of the most important to understand when thinking about business and the environment. It also seems to be most frequently omitted from the conversation. If we want to get to economic, social and environmental sustainability -- meaning healthy and vital through time -- we as a society need to come to grips with externalities in the market place."