“The data make it clear that the only possible rationale for renewable energy—making significant reductions of CO2 emissions—cannot be achieved. The costs of attempting to do this are already imposing heavy costs on economies across the world.”
By the 1800s, wind and solar were both mature and successful technologies. Yet as soon as Western society developed the wealth and technology to take advantage of fossil fuels, they were discarded—along with batteries for electric cars—with no place in the modern world for grid-scale generation of electricity.
Renewable energy still cannot compete with the efficiency, affordability, and reliability of fossil fuels. But this has not stopped it from making a comeback on the backs of American taxpayers and consumers who have paid for hundreds of billions of dollars of subsidies from federal, state, and local governments.…
Continue ReadingEditor note: The wealth of free-market capitalism creates a robust civil society, where nonprofits and foundations can support the causes of their choosing, many of which might not be viable otherwise. The problem is where philanthropy goes political against the free society and human betterment. Jane Shaw Stroup at her blog Jane Takes on History takes a look at good money going in negative directions, even violating original intent.
You’ve probably heard that Henry Ford II resigned from the board of the Ford Foundation because it had veered far away from its donor’s intent. In his 1976 resignation letter, Ford (grandson of Henry Ford Sr.) wrote:
… Continue ReadingIn effect, the foundation is a creature of capitalism—a statement that, I’m sure, would be shocking to many professional staff people in the field of philanthropy.
“Opponents of oil and gas have increasingly targeted energy projects through misinformation, protests, lawfare and misinformation, hurting a strategic U.S. industry that employs more than 11 million Americans, and negatively impacting our country’s economic stability.” (Energy Transfer, below)
Pragmatic rent-seeking by crony capitalists is a major problem in the United States. Political capitalism allows “the worst of get on top,” while misallocating resources from consumer to governmental ends. Think of Ken Lay of Enron. James E. Rogers of Public Service of Indiana/Duke Energy. John “beyond petroleum” Browne … Ben van Beurden of Royal Dutch Shell… GE’s Jeff Immelt… T. Boone Pickens … John Hofmeister. The wind and solar crowd. Even Kelcy Warren, co-founder and chairman of Energy Transfer, the subject of this post.
As a Houston Chronicle editorial stated on Monday:
… Continue ReadingA few of Trump’s Texas-based allies and donors stand to make a killing off Biden’s climate law.