Space Exploration: does it have a future?

An interesting analysis of NASA's situation is here. I don't accept his conclusion because, as far as I know, there is nothing worth mining on the moon. The major issue with space travel is the launch costs: at around $10,000(US) to get a kilogram into low Earth orbit, there is very little cargo that can pay its way. As long as we are limited to chemical propulsion, costs won't come down much.