“Is there any more single-minded, simple pleasure than viewing with alarm? At times it is even better than sex.”
—Kenneth Boulding (1970), p. 160. [1]
“Pick up any 40-year-old science textbook – on chemistry, biology, geology, physics, astronomy or medicine – and you’ll find a slew of “facts” and theories that have been proven wrong or are no longer the “consensus” view. Climatology is no exception.
Yesterday’s Cooling Scare
Back in the 1970s, many scientists warned of global cooling – and fretted that a new ice age brought on by fossil fuel use would cause glaciers to expand, wreaking havoc. They predicted every conceivable disaster, short of roving herds of wooly mammoths stampeding through ice-covered streets. (The possibility of cloning a well-preserved mammoth could buttress the next scary ice age scenario.)…
Wind proponents cite their industry as one of the fastest growing sectors of the American economy, having doubled U.S. nameplate capacity since 2008. But let’s be clear: that recent growth is largely due to the massive infusion of public cash lavished on big wind under the American Recovery and Reinvestment Act of 2009 (ARRA), which is anticipated to pay out $22.6 billion in direct grants with 85% claimed by wind.
Expiration of Section 1603 cash grants, coupled with record-low natural gas prices, will likely collapse the stimulus-induced bubble and push installations back to mid-2000’s levels. Even if the production tax credit (PTC) is extended, offsetting above-market wholesale prices, recent growth will not be repeated.
Wind and State RPS Policies
In the last ten years, more than half of the states adopted renewable portfolio standards (RPS) that encouraged development of home-grown low-emission generation.…
“The [Federal Energy Regulatory] Commission’s recent progress in promoting competitive wholesale energy markets has the potential to be undone as a result of this well-meaning, but misguided Rule.”
– FERC Commissioner Philip Moeller, “Demand Response Compensation in Organized Wholesale Energy Markets,” Order No. 745 (2011).
Renewable energy subsidies are at the forefront of the public policy debate with constant talk of “green” jobs and the looming expiration of the production tax credit, a familiar subject at this blogsite. But qualifying renewables get other subsidies too, such as accelerated depreciation and state-level must-buy mandates.
The Federal Energy Regulatory Commission (FERC), regulating interstate electricity, is arguably subsidizing another favorite “green” resource – the practice of energy abstinence called “demand response.”
FERC Order Nos. 745 and 745-A established, for the first time, a uniform compensation scheme for demand response in organized electricity markets.…