Joe Biden is set to tell a BIG lie to the American people tonight. He is going to say in his State of the Union address that shifting America toward more green energy and reducing our production of oil, gas and coal will REDUCE energy prices. He is going to call for massive ADDITIONAL subsidies for the wind and solar power and for batteries. This is on top of the $150 billion of taxpayer money that has already been doled out to these highly-inefficient energy sources.
Here is the truth: wind and solar power are multiple times MORE expensive for generating power than natural gas and coal. Wind and solar are niche forms of energy and much less reliable/and more intermittent power sources – which causes dangerous brownouts and blackouts. (Just look at California.) The only way that wind and solar survive as energy is with massive government handouts. The Chart below shows the level of federal government subsidy per unit of power generated.
The Europeans nearly bankrupted their economies with the green energy fantasy and are smartly moving AWAY from wind and solar (and back toward natural gas and nuclear power). Now Biden wants to double down on Europe’s green energy folly.
We at CTUP are in favor of getting the government out of the energy business. We should use ALL of our abundant energy sources: oil, gas, coal, nuclear, hydropower, and in certain markets where it makes sense, wind and solar. Letting a free market in energy work its magic will lower prices. Having politicians choose winners and losers in our energy markets is a catastrophic mistake – as we’ve already learned in Biden’s first year in office.