The wild claims about wind and solar replacing, coal, gas and nuclear power don’t stand first contact with reality.
Over the last 20 years, trillions of dollars have been squandered on subsidies, tax breaks, mandates, penalties, and other state-directed efforts to make chaotically intermittent wind and solar serious contenders on the world energy scene. Their combined contribution to world energy demand remains thoroughly underwhelming, as John Hinderaker highlights below.
$3.8 Trillion for Essentially Nothing
Powerline
John Hinderaker
26 October 2022
Jeff Currie, who is Global Head of Commodities Research for Goldman Sachs, describes the utter futility of “green” energy:
Here’s a stat for you, as of January of this year. At the end of last year, overall, fossil fuels represented 81 percent of overall energy consumption. Ten years ago, they were at 82. So though, all of that investment in renewables, you’re talking about $3.8 trillion, let me repeat that $3.8 trillion of investment in renewables moved fossil fuel consumption from 82 to 81 percent, of the overall energy consumption. But you know, given the recent events and what’s happened with the loss of gas and replacing it with coal, that number is likely above 82.
So, in other words, $3.8 trillion in dead economic loss. Currie adds this, which I don’t agree with:
The net of it is clearly we haven’t made any progress.
By progress, he means progress in replacing fossil fuels with wind and solar. But I don’t call that progress, I call it regression, along the lines of: “What did socialists use for light, before candles? Electricity.” Wind and solar have both been obsolete for a long time, and happily, no “transition” to those inadequate energy sources is occurring, nor will it ever.
Finally, given the total absence of the allegedly intended impact of spending on wind and solar, how in the world has $3.8 trillion (and counting) gone up in smoke? Easy: enormous amounts of money have been made by a small number of people, at the expense of the rest of us. And those people have shared a small share of their ill-gotten gains with politicians.
Powerline
Easy come, easy go.
via STOP THESE THINGS
November 11, 2022, by stopthesethings