An economic reality: Fossil carbon energy has more value as already sequestered carbon than the value of the energy we’d get from burning it. Just let that sink in for a minute.
The technology exists for renewables to provide pollution free energy at lower — not higher, lower — prices, but its potential isn’t yet fully realized. And why? It needs capital. Mucho capital.
It’s funny how we understand that about, say, an offshore oil well but we seem to think renewables ought to just spring up by themselves.
Offshore oil wells don’t just create themselves; they need lots of capital.
For renewables to really take off, they need capital. Private industry is already putting in plenty of capital and the public sector needs to kick in too to build up the infrastructure. The Irish Republican Army, I mean the Inflation Reduction Act, is putting up some money for infrastructure for renewables, which some would say is blatant socialism.
No, it’s capital. It will have a return on investment.
Charles Ashurst, Logan
from The Salt Lake Tribune https://ift.tt/6xynOMT
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