I realize that this is a few days old, but I’m just catching up after my break. Ken Blanchard nails it:
wind and solar power are subsidized at a rate of more than twenty three and twenty four dollars a megawatt hour. That is a hundred times what natural gas and petroleum are costing the fed. No one would be generating power by wind or sun without massive federal subsidies. These “renewable” energy sources are not producing energy or wealth, they are soaking it up. These industries exist because wealth is transferred from viable enterprises to maintain them. They are not adding to the energy supply, they are depleting it. [emphasis added]
We have every economic reason to take advantage of the Canadian oil which would flow southward via Keystone XL. But opponents are pushing hard against it because energy from oil is “bad” energy–unlike the naturally renewable energies mentioned above.
Folks, energy sources are neither good nor bad–they simply are. Every one of them has costs and benefits. Cold fusion would be nice–but if we ever achieve that, I’m certain that we will find it also comes with a cost. Right now, despite all the billions spent on subsidies for wind and solar power, these sources of energy simply cannot compete with oil, etc.
As Mr. Blanchard notes, it is not just that green industry fails to produce wealth–it also actively destroys it. With that said, perhaps there is such a thing as “bad” energy, after all.