“Since 2000, the world has spent more than $5 trillion on green energy. More than 300,000 wind turbines have been erected, millions of solar arrays were installed, more than 25 million electric vehicles (EVs) have been sold, hundreds of thousands of acres of forest were cut down to produce biomass fuel, and about three percent of agricultural land is now used to produce biofuel for vehicles.”
We are in the midst of history’s greatest wealth transfer. Government subsidized wind systems, solar arrays, and electric vehicles overwhelmingly benefit the wealthy members of society and rich nations. The poor and middle class pay for green energy programs with higher taxes and higher electricity and energy costs. Developing nations suffer environmental damage to deliver mined materials needed for renewables in rich nations.
Since 2000, the world has spent more than $5 trillion on green energy.…
Continue Reading“The failure of the uncompleted V.C. Summer Units #2 and #3 ($10 billion), and the continuing woes at Vogtle, have marked the complete failure of Congress to create a ‘nuclear renaissance’ through the 2005 Energy Policy Act. The act provided for up to $8 billion each in ‘loan guarantees’ for new nuclear plants.”
“Nuclear ‘loan guarantees,’ it turns out, is a politically constructed term to cover the fact that the ‘guarantees’ are actually Treasury funds, and loan payments are made to the Treasury.”
The sun rises in the East and sets in the West. And Southern Company announces further delays in the startup of Georgia Power’s Vogtle Units 3 and 4, the only nuclear power plant under construction in the U.S.
In its annual financial report issued Feb. 16, Southern said it will push back the startup date for Unit 3 of the two-unit, Westinghouse AP-1000 reactor project to May or June of this year. …
Continue Reading“Are RTOs central planning entities subject to the Mises/Hayek/Lavoie critique of access, pricing, and service quality? Is the ‘knowledge problem’ and ‘fatal conceit’ a defining issue for RTOs/ISOs compared to a private sector, unregulated approach to power coordination?”
“Vernon Smith: I don’t know”
It is a strange world in which a classical liberal espousing F. A. Hayek tries to justify a “market” based on a systemic violation of property rights and governmental central planning for an enormous territorial grid.
But this is the case with Lynne Kiesling, and maybe even Nobel Laureate Vernon Smith. I’ll let the reader decide from this social media exchange:
Kiesling: I’m pleased to report a new publication in the journal Energies, “Opening Up Transactive Systems: Introducing TESS and Specification in a Field Deployment,” available to read below.…
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