The hidden costs of fossil fuels are three layers deep. They include current costs, future costs and socio-environmental costs. Let’s start with current costs. The Environmental Law Institute has calculated $70 billion in subsidies for fossil fuels in the period of 2002-2008, in the form of tax breaks, direct spending and even health care costs, like the treatment of black lung disease for coal miners. If those subsidies were to vanish, shock waves would surely shake the nation out of its energy apathy, and we would understand the value of a kilowatt-hour. Renewable alternatives like wind would suddenly look like a bargain deal.

Then there’s the problem of the future. Artificially low as they are, traditional energy costs will rise due to tighter supply, challenges in exploration and extraction and regulation. Today’s slump in energy prices, stemming from the global recession and relaxed demand, is a temporary mirage. No one, however, can predict the next debilitating price spike or even say what our favorite fuels will cost in 20-30 years. This veil of uncertainty exposes the economy to great risk. In contrast, wind is predictable, allowing prices to be locked-in for up to 25 years.