Sunday, September 25, 2011

The high cost of "renewable" energy

Robert J. Michaels, PhD is a professor of economics at California State University, Fullerton, and an adjunct scholar at the Cato Institute. He is also a senior fellow at the Institute for Energy Research.

On 22 Sep 2011, Dr. Michaels testified to Congress regarding the cost of so-called "renewable" energy. The statistics he quotes are astounding.

For example, here is the cost to the taxpayer of federal subsidies for various sources of energy:

Note that the solar bar is not to scale. Imagine how high is would be, compared to the others energy sources, if it were drawn to scale!

Isn't it interesting that when Obamao and other "green" advocates tout green technologies, they never talk about the true cost?

Why doesn't the news media ask hard and meaningful questions about cost and subsidies when they publish "news" articles about alternative energy? Is it ignorance, laziness, collusion, or all three?

What kind of voter, when he at last has some facts, would vote for politicians that advocate such nonsense?

It's incomprehensible that liberals in government love to champion green energy projects as the future of energy production even though, to an educated mind, most are only viable with billions in government subsidies.

There is a reason that private investors have not flocked to alternative energy: The technology has not reached a point where it makes economic sense. Almost nobody is willing to spend his own money on alternative energy without substantial money extracted by government force from the pockets of his neighbors!

Congress must immediately stop subsidizing anything especially "green" anything. In general, products and services are best regulated by a free market. When bureaucrats, politicians, and other central planners try to push technologies into the market, they invariably do so inefficiently and at a much higher cost than necessary.
It's both logically and historically fallacious to conclude that, because something is desirable, government should subsidize it. -- Don Boudreaux
People who favor these "green" scams don't seem to care about science, don't seem to understand economics, won't do the math, and enjoy having the government force other people to pay their bills for them. Few politicians have the sense to take the time to study the issue before committing taxpayer money to these money-pits. It is time for politicians, journalists, environmentalists, and voters to learn something about science and economics and muster the courage to say no!

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