A steady stream of recent stories continues to undercut the dirty energy lobby’s claims of “cheap and abundant.”
First up, “Study: World's 'Peak Coal' Moment Has Arrived,” offers up yet another study on how Big Coal is running out of mountains to blow up and cheap coal seams to mine. Instead, production of this dirtiest fuel will begin a “long, steep decline” next year, despite coal industry propaganda to the contrary.
The next day, The New York Times quoted Former BP chief executive John Browne, now a managing director of a private equity firm dedicated to renewable energy, complaining about his old industry’s permanent hand in the government cookie jar.
“No politician can stop subsidies to fossil fuels overnight, but I think governments could be leveling the playing field a great deal faster,” Browne said. He cited estimates by the International Energy Agency that show highly profitable dirty energy companies get over $500 billion in welfare a year – more than 10 times the amount spent on subsidizing renewable sources. Browne also pointed to the BP oil spill in the Gulf of Mexico as “a reminder of the significant local risks to extracting fossil fuels.”
The week ended with a Reuters story on the stark realities around the pie-in-the-sky notion of carbon capture storage (CCS). A refinery in Norway now estimates it will cost $1.02 billion, nearly nine times as much as planned, to build a CCS facility. Never mind the fact that all these boondoggles will capture is carbon, not the dozen plus other toxic pollutants from burning coal.
The jury keeps coming in and saying the same thing – dirty energy isn’t cheap, and it’s not abundant. It’s just heavily propagandized and even more heavily subsidized. We again challenge the “cheap and abundant” crowd to join us in saying that dirty energy lobbyists need to be kicked off welfare. If they are cheap and abundant, then it shouldn’t be a problem, right?