“Offshore wind is not cost-effective, and the forecasts of rapidly declining costs through increasing economies of scale are unrealistic. Absent continued subsidies … it is unlikely that any offshore wind facilities will be developed.”
“The experience with offshore wind projects in Europe over the last decade has demonstrated that newer, larger turbine technologies have been accompanied by significant reliability and maintenance issues, causing the amount of electricity that these turbines generate each year to decline by almost half over 10 years.”
An important data source for offshore wind is a new study by Jonathan Lesser, “Out to Sea: The Dismal Economics of Offshore Wind,” just released by the Manhattan Institute.
This major study reviews the history of offshore wind, the subsidies to date in the Northeastern U.S.,…
Continue Reading“Fracking is such a money-losing enterprise that it’s in the process of banning itself. Please stop applying a purity test about whether a candidate will ban it or not.”
It came as a surprise to see this climate alarmist extraordinaire (aka Angry Andy) demote fracking as a burning climate issue. What gives?!
The answer is Joe Biden, who recently reversed course to support fracking in such swing states as Ohio and Pennsylvania. Presumably Joe would want New York State to open itself up to this new drilling technology if asked by the media.
Well, banning fracking is a huge issue for climate activists in the United States.…
Continue Reading“If we believe that somehow the market is going to take care of this, that you put a price on carbon and everything will sort itself out, or that we can shame companies into doing it, then I think we’re kidding ourselves. This needs a very significant interventionist approach and all industries have to be part of the intervention.”
– Ben van Beurden, CEO, Royal Dutch Shell. Quoted in Akshat Rathi and Laura Hurst, “Look Who’s Talking About Zero Emissions.” (Bloomberg: June 9, 2020)
Enron’s Ken Lay. BP’s John Browne. Duke Energy’s James E. Rogers. T. Boone Pickens. GE’s Jeff Immelt. And now Shell’s Ben van Beurden.
Welcome to the swamp of political correctness when industry leaders morph into apologists for mineral energies and endorse open-ended government intervention for forced energy transformation from dense, reliable energies to dilute, intermittent ones.…
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