The Great Energy Deception: The Truth Behind the $5 Trillion Renewable Energy Scam
BY NICK GIAMBRUNO
April 27, 2023
Did you know governments worldwide have spent over $5 trillion in the past two decades to subsidize wind, solar, and other so-called renewables?
To put that in perspective, if you earned $1 a second 24/7/365—about $31 million per year—it would take you 158,550 YEARS to make $5 trillion. $5 trillion is an almost unfathomable amount of money.
However, even with that astronomical financial support, the world still depends on hydrocarbons for 84% of its energy needs—down only 2% since governments started binge spending on renewables 20 years ago.
That’s all according to Mark Mills in a report from the Manhattan Institute, who concludes that:
“The lessons of the recent decade make it clear that solar, wind, and battery technologies cannot be surged in times of need, are neither inherently ‘clean’ nor even independent of hydrocarbons, and are not cheap.”
With all that in mind, it should be clear that so-called renewables—more accurately, unreliables—have been a giant flop. They are not viable for baseload power—even with $5 trillion in subsidies and two decades of trying. Today, using wind and solar for mass power generation is an artificial political solution that would not have been chosen on a genuinely free market for energy.
Wind and solar power might be useful in specific situations. Still, it’s ridiculous to think they can provide reliable baseload power for an advanced industrial economy. It’s like trying to force a square peg into a round hole.
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Nonetheless, governments, the media, academia, and celebrities flippantly push for an imminent energy “transition” as if it’s preordained.
It’s shocking and depressing so many adults think they can magically change the underlying economics, chemistry, engineering constraints, and physics of energy production to suit their childish fantasies and political agendas.
Unreliables—i.e., renewables—will not replace hydrocarbons anytime soon and will certainly not bring about energy security… despite what many “serious” people believe. When it comes to reliable baseload power, most of humanity has only three choices:
hydrocarbons—coal, oil, and gas
nuclear power
abandon modern civilization for a pre-industrial standard of living.
Aside from friendly aliens delivering a magical new energy technology, most places have no other alternatives.
So, with Western governments intent on going green, sanctioning large energy exporters (Russia, Iran, Venezuela), and shunning hydrocarbons in general (ESG, windfall profits taxes, limiting exploration, burdensome regulations), it boils down to a simple choice.
They can either embrace nuclear energy—which has zero carbon emissions—or give up reliable electricity. I suspect it won’t be long before Western governments turn to nuclear energy in a big way for two reasons.
Rising hydrocarbon prices.
Concerns about energy security.
Rising Hydrocarbon Prices
First, a necessary clarification. Sloppy, vague words lead to sloppy, vague thinking. The term “fossil fuels” is an excellent example of this.
When the average person hears “fossil fuels,” they think of a dirty technology that belongs in the 1800s. Many believe they are burning dead dinosaurs to power their cars. They also think fossil fuels will run out soon and destroy the planet within a decade.
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