Since the beginning of the Ukraine war and the sanctions it triggered, energy prices have skyrocketed. But are the high prices really Putin's fault? He didn't sanction himself, after all. It's the West that chose to cut itself off from fossil fuels upon which it had come to rely.
The origins of the current energy crisis
- A combination of post-Covid demand rebound, a wind drought in Europe and depleted fossil fuel storage on the continent all collided to put serious pressure on the world's industrial systems.
- Add the longstanding overinvestment in unreliable renewables, nuclear plant closures across the world in the wake of the Fukushima disaster, and a global drop of more than 50 percent in oil and gas investment between 2014 and 2015
- The result of all this? America's energy and electricity sectors look anemic, fragile and expensive.
End production tax credits for wind and solar in perpetuity
- Eliminate incentives for overbuilding and spares electricity markets the subsidized negative prices that push reliable power plants off the grid
- This will mean taking on the environmental establishment, which views anything outside of renewable energy as an existential threat to mankind
- One road leads toward liberty and abundance, another leads toward tyranny and austerity
- We can live in a country where bureaucrats decide when we get to run our washers and dryers to spare our poorly managed infrastructure, or one where we can enjoy the freedom to pursue our own interests
https://spectatorworld.com/topic/the-west-is-on-the-road-to-energy-ruin/
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