A new “era of cheap oil” would be good news for consumers and motorists – but analysts say the consequences for politics, industry and the climate could be even more radical.
It will be bad for "politics" (in Britain)? Oh, dear. And, green energy will have to buckle down and find new ways to compete, right? Wrong. The article continues:
Anne Robinson, director of consumer policy at the uSwitch price comparison website, said: “More subsidies are likely to be needed [for green power] as the gap between the cost of fossil fuel power and renewable power gets bigger.” The extra subsidies would be borne by households in the form of higher energy bills.
Entire article here.
In the U.S., we have been giving subsidies, big subsidies, to 'green' energy since the Carter Administration. It is past time to let it compete on its own merits. Solar and (especially) wind are unreliable, expensive and destabilize the grid. If they can fix these problems, great! But, as long as they are subsidized, there is little incentive to do so.
Today's ITS SmartBrief newsletter says states are now adding fees for electric vehicles and hybrids to make up for lost gas tax revenue. So, we give tax breaks for these vehicles and then impose special fees? A suggestion: Stop all of this and let the marketplace sort out the viability of these vehicles.
If Big Environment really believes we need to decarbonize our energy, then it is long past time for it to get behind second generation nuclear. It is likely they will not because it would be unpopular with their political base. Still, that would be a highly welcome development and a very useful addition to the energy mix.