“Extermalities” = Junk economics.
Bond analyst Cate Long writes in “Fracking’s Externalities“:
Fracking is under increased scrutiny in the U.S. and in Australia, in the state of New South Wales. Both nations have undertaken studies to examine the effect of fracking on groundwater supplies. But there are other potential socialized costs that need to be included in these public studies, including the possible cost of wastewater treatment plants, damage to local roads, air and water pollution and the linkages to earthquakes. The costs of these possible side effects to local communities may exceed the gains they’ll receive from extraction royalties and increased tax revenues. We need some accounting… [Emphasis added]
The above-highlighted phrase ais what the greens refer to as “externalities” — i.e., a license to fantasize about all the potential harms and costs associated with a politically incorrect activity, like fracking. The associated catch phrase is “privatizing the profits but socializing the costs. This amount to nothing more than “imagining the harms and killing the jobs.”