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Joe Biden’s Suicidal Energy Bill Threatens to Destroy America’s Power Grid

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From the outside it looks like treason, to the insider it’s merely the extension of the most massive subsidy scam in history. For nearly 40 years, the wind and solar industries have been telling us that they’ll soon be standing on their own two feet. But their greatest fear is being given the chance to actually do so.

The renewable energy rent seekers traipsing the halls of power in Washington are desperate to ensure that the subsidies upon which the greatest economic and environmental fraud of all time critically depend are extended in perpetuity.

With the Squad firmly in charge, and Joe Biden wandering the Oval Office in a befuddled daze, crony capitalists have already given a list of demands to Democrats ready to deliver: decade-long extensions of the Federal tax credits that will allow wind and solar generators to continue to profit obscenely at taxpayers’ expense.

Alex Epstein describes how any further expansion of wind and solar, fuelled by federal subsidies, amounts to an economic suicide pact.

Talking Points on the reconciliation bill, part 2: the 10-year extension of solar and wind subsidies
Energy Talking Point
Alex Epstein
December 2021

This is part 2 of my series “How passing the reconciliation bill will destroy American energy.” This horrific bill has at least 6 energy-destroying policies that alone should disqualify it from passage—including the extension and increase of solar and wind subsidies.

The reconciliation bill’s 10-year extension and increase of solar and wind subsidies will drive more and more reliable power plants off the grid, lead to skyrocketing prices and frequent blackouts.

Quick Summary

References


  1. House Committee on Ways & Means – Subtitle F – Infrastructure Financing and Community Development Section-by-Section Alex Epstein – Talking Points on Wind Production Tax Credit
  2. Our World in Data – France: Energy Country Profile Ontario Energy Board – Ontario’s System-Wide Electricity Supply Mix: 2020 Data Danish Energy Agency – Energy Statistics 2019
  3. Public generation of electricity was over 488 terawatt-hours in Germany for 2020, solar and wind combined generated over 37%. In 2002 they generated just over 3%.
    Fraunhofer ISE energy-charts.de
    German household electricity prices have more than doubled to over 0.3€ per kWh ($0.35 per kWh depending on currency exchange rate) since 2000 when the modern renewable energy law started to massively incentivize solar and wind capacity on the German grid.
    BDEW Strompreisanalyse Jul 2021 p. 7
    The average US household price in 2020 was $0.1315 per kWh.
    U.S. Energy Information Administration Electric Power Annual table 5a
    Increasingly, Germany depends on interconnections with neighboring countries. In 2020 the country experienced a sharp increase in electricity imports, while still massively exporting solar and wind overproduction.
    Reuters – German power export surplus shrank 46.2% in 2020
  4. Warren Buffet cited by U.S. News/Nancy Pfotenhauer
  5. Alex Epstein – Talking Points on CO2 Emissions

Energy Talking Points

You get what you vote for…

via STOP THESE THINGS

January 14, 2022, by stopthesethings 

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