[Editor’s note: Mr. Graf’s cash flow analysis of wind power projects is presented as another view of the inappropriateness of planned public policy in the electricity sector. The economics of wind power is a broad topic; previous posts at MasterResource are listed at the end of this post. For general problems of industrial wind, see here.]
There are many arguments to be made against government subsidization of industrial wind power, some objective and others subjective. We hear about noise, shadow flicker, disruption of wildlife, lack of consistent energy output (intermittency), questionable performance with respect to pollution reduction, and undesirable aesthetic appearance.
It occurs to me, however, with regard to subsidies for energy ventures and technology, three things must be kept in mind:
… Continue Reading(1) any good investment must be made in worthwhile ventures that can show a reasonable return;
(2) arbitrarily subsidizing some ventures may cause inadvertent (or advertent) exclusion of others; and
(3) jobs cannot be created by subsidizing ventures that do not provide a viable return.
[Editor note: David (P. D.) Henderson, formerly head of the Economics and Statistics Department of the OECD, is currently Chairman of the Academic Advisory Council of the London-based Global Warming Policy Foundation, which is headed by Nigel (Lord) Lawson). This is his first post at MasterResource.]
Over the past 22 years, governments everywhere and a great many outside observers have put their trust in the official expert advisory process as a whole and the IPCC process in particular.
I have come to believe that this widespread trust is unwarranted. But it is not just the IPCC process that is in question here. The basic problem of unwarranted trust goes further: it extends to the chronically biased treatment of climate change issues by responsible departments and agencies which the Panel reports to, and in nationally-based organizations which they finance.…
Continue ReadingIn yesterday’s post, Scientists versus Lobbyists: Looking for a Winning Strategy Against Big Wind, I promised to share with readers a citizens’ letter I received from Eric Bibler. Consider his piece, which has been condensed to meet format and space requirements, as Part II of my post. Mr. Bibler is focused on Massachusetts, but his experience and advice apply across the Northeast and across the nation where grassroots opposition to industrial wind turbines is growing apace.
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This post summarizes a group discussion about how to counter Massachusetts’s Wind Energy Siting Bill.
Would it be more politically pragmatic (and therefore advisable) to avoid any argument against the fundamental viability of wind energy (which continues to be an article of faith held by many legislators), and instead to focus exclusively on the flaws specific to the bill?…
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