Fossil Fuels Will Save the World (Really)

There are problems with oil, gas and coal, but their benefits for people—and the planet—are beyond dispute. The environmental movement has advanced three arguments in recent years for giving up fossil fuels: (1) that we will soon run out of them anyway; (2) that alternative sources of energy will price them out of the marketplace; and (3) that we cannot afford the climate consequences of burning them.

These days, not one of the three arguments is looking very healthy. In fact, a more realistic assessment of our energy and environmental...