CFP: I can see why you might think, at first, that this didn’t really sound like such a bad idea. If we could take existing resources that are just laying around – or worse, presenting an environmental hazard – and turn them into an energy source, why not?
But there are several good answers to why not. We’ll start with this: It is not 1973 and we are not facing an energy crisis. We have abundant sources of energy already at our disposal and we’re developing more, in addition to the utilization of new methods – like fracking – of getting at them.
Second, the existing and plentiful sources we have are much more cost-effective to exploit and develop than this.
Third, this is looking more and more like a boondoggle designed to create economic impact for South Carolina, but not to really deliver value for the rest of the country, which is why Lindsey Graham is upset, but everyone else seems to recognize this is the right thing to do.