Crude Oil and the Polar Bear

Last week the Bush administration declared polar bears as threatened species, acknowledging that global warming jeopardizes the species’ livelihood as a result of rapid Artic sea ice depletion. The polar bear serves as a symbol for those who view climate change and global warning as the most important issue of our time. On the contrary, the panda represents China ’s seemingly insatiable appetite for consuming raw materials, with the world’s resources being further strained by the unprecedented growing masses of people in India and other developing nations increasing their standard of living with their financial upward mobility out of poverty.



So you have the interests of those who want to limit carbon emissions pitted against one-third of the world’s population, whose ideal pursuit of the life is modeled after the lifestyle experienced over the past century by citizens in developed countries, will undoubtedly lead to increased carbon use in the short term. There really is no contest here–the panda is going to devour the polar bear. I am merely speaking in symbolic terms because there is also contradicting evidence suggesting the polar bear population may be under no real threat at all.

Market Oracle