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Well, at the moment, I'm sure, but unless you use a lot of frankenrockets it'll be as with all motorised transport innovations--they're relatively harmless curiosities at first, and then usage explodes until you get to successive breaking points. The upshot is usually just more and more travel beyond any reasonable utility that one could rationally defend. As I joked earlier, there may well be environmentally useful applications for rocketry, but would they really happen in favour of middle-aged billionaires going up for their fifteen minutes in space?
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More about hydrogen production using excess electricity (with some fudgy numerical estimates). A really good solution IMO.
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motorised transport innovations
I think the phrase loses meaning when extended to space travel...
The upshot is usually just more and more travel beyond any reasonable utility that one could rationally defend
This conclusion requires predicting the future and as such I wouldn't put much on it, who knows what utility there could be from commercial space flight?
There are around 100 launches per year, I reckon that's a drop in the ocean next to India's and China's, and therefore the rest of the world's, carbon output.