More BAD NEWS :
From Another Board :
" The laws of physics remain and bat last.
And no, I don't find the fact that these countries are squandering so much money on an unworkable idea dispositive.
I might have twenty years ago, but after watching the world squander trillions on wind and solar which do almost nothing to reduce CO2 on a reliable grid and which cause grids to become vastly more expensive and unreliable I am no longer amazed by such waste.
Every region that has allowed large grid penetration of wind and/or solar has seen large increases in the price of electricity to consumers and declines in reliability. Activists will try to point at the wholesale prices, but that tells you nothing about grid operation. Wind/solar is way to appear to get 15% of your electricity a little cheaper while causing other 85% to double in cost compensating for the unreliability of renewables.
In places like Texas the increase is muted by the confounding decrease in natural gas prices. But in the time frame since 2008, Texas should have seen a 20% decrease in their electricity prices, based on the decline in natural gas prices, but instead we've experience huge increases.
Germany has wasted north of $500B eu. on Energiewende and their CO2 emissions are still above 400 grams of CO2 per KWHr generated. They've doubled the price of electricity in their nation and industry is now leaving in droves rather than pay the high costs and deal with the "demand response" (i.e. third world grid quality blackouts).
Meanwhile, next door in France, CO2 emissions are under 60 grams of CO2 per KWHr generated and electricity costs 1/2 as much. France has the 7th lowest electricity prices in Europe behind some hydro blessed nations.
Ontario is much like France at about 80 grams.
Math.
Spend lots of money, continue to emit vast sums of CO2. How is this good policy?
Yet, with Biden's "Inflation Reduction Act" we're set to throw $1.3T down the toilet imitating the European failure.
This being Seeking Alpha, I will point out that there's money to be made by following the subsidies, as long as they last. That's what XOM is doing."
