I don't think your standard of living will change. Your household devices are getting more and more energy efficient. Did your standard of living change as your car fuel efficiency of your increased? And if it did, did you not adapt?
On your other point: If your complaining about government handouts, the oil/gas industry gets billions dollars in subsidies every year.
The three largest fossil fuel subsidies were:
Foreign tax credit ($15.3 billion)
Credit for production of non-conventional fuels ($14.1 billion)
Oil and Gas exploration and development expensing ($7.1 billion)
The three largest renewable fuel subsidies were:
Alcohol Credit for Fuel Excise Tax ($11.6 billion)*
Renewable Electricity Production Credit ($5.2 billion)
Corn-Based Ethanol ($5.0 billion)*
*Corn (ethanol) subsidies need to be replaced with something else. It will not work (not sustainable) and is a handout to the agriculture industry.
Also, the externalities of fossil fuel production is not priced in when purchasing the fuel. Health, disasters, other issues are not included.
By the way, do you not think that your standard of living will change when fossil fuels run out? Best thing is to be diversified.
On your other point: If your complaining about government handouts, the oil/gas industry gets billions dollars in subsidies every year.
The three largest fossil fuel subsidies were:
Foreign tax credit ($15.3 billion)
Credit for production of non-conventional fuels ($14.1 billion)
Oil and Gas exploration and development expensing ($7.1 billion)
The three largest renewable fuel subsidies were:
Alcohol Credit for Fuel Excise Tax ($11.6 billion)*
Renewable Electricity Production Credit ($5.2 billion)
Corn-Based Ethanol ($5.0 billion)*
*Corn (ethanol) subsidies need to be replaced with something else. It will not work (not sustainable) and is a handout to the agriculture industry.
Also, the externalities of fossil fuel production is not priced in when purchasing the fuel. Health, disasters, other issues are not included.
By the way, do you not think that your standard of living will change when fossil fuels run out? Best thing is to be diversified.