Sometimes you just have to state the obvious. We are not going to be able to replace fossil fuels with wind turbines and solar panels. That goal is not achievable since neither wind nor solar will be able to produce even 20 percent of our energy needs, ever. To say we are going to be using only renewable energy sources in ten years is nonsense. First of all, there are no renewable energy sources. All energy has an availability cost and all energy has to be replenished when it is converted to useful work. The full life cycle cost of energy sources touted as renewables are orders of magnitude higher than conventional sources--fossil fuels, nuclear and hydroelectric. In highly scientific jargon, “you don’t get something for nothing.”
As humans, we have fallen in love with the advancement of “renewable” technology without understanding the actual nature of that technology. Here again is that term “renewable” which has the same level of existence as the unicorn. Alex Epstein likes to call solar and wind “unreliables.” He is absolutely correct but then he doesn’t have the following of AOC and that’s a shame. But Time, the Laws of Physics and Economics are on his side.
Energy and Unicorns
The current situation in the world, in particular the Russian invasion of Ukraine has brought the fragility of the energy supply chain to the forefront. Many think that one solution is to release the great American energy industry to do its thing--find, develop and produce energy. The fossil fuel components are coal, natural gas and petroleum. They are the quickest remedy to the current situation, but they are not instantaneous. It takes years to explore and produce oil and natural gas. Building a petroleum refinery today is nearly impossible due to regulations and artificial constraints on capital, the goal of ESG. ESG stands for Environmental, Social and Governance. It is supposed to be a set of standards for how a company operates in regard to the planet and its people. ESG is supposed to be how “woke” socially conscious investors screen potential investments. It is supposed to consider how a company performs as a steward of the planet. The problem is ESG proponents have forgotten the people part of the stewardship goal. For example, coal is also available as a fuel supply but the power plants to convert coal to electricity have been closed down. Nuclear has the same issues as coal--regulatory restrictions and extremely long construction schedules. ESG is just a stupid idea of the global elite, and it is destroying America. Unfortunately, you can’t change the situation any time soon, even with an election of smarter people to high office. The problem is that the senior leadership of both sides have accepted ESG.
So, in case you have ever wondered, unicorns may not exist but they sure seem to leave a lot of crap.