*n.b.: I'm reasonably certain that sooner or later equipment and electrical costs will become a very tiny part of the mining calculation. Probably sooner. Technology marches on, and as Bitcoin gains market share smarter and better equipment designers will enter the fray. I expect massive - and I mean massive - hashing power to be available within the next two or three years, for the cost of a decent desktop computer.
In the mid-term, I'm convinced that the most expensive part of mining will be space/property costs.
Honestly, I don't see that as an argument against a fixed block reward.
It wasn't intended to be. That's why I foot-noted it
And I wasn't arguing either for or against a fixed reward - personally, I'm with
hazek: I wouldn't be here if it was immutable. I was only addressing the question of how I thought the conversation might be different, given that circumstance.