The all-out effort to push renewables is heading for demise, says Francis Menton in the Manhattan Contrarian.
“I have long predicted that this [renewable] program would come to an end when (absent some miraculous innovation that nobody has yet conceived) the usage of the renewables got to a sufficient level that their costs and unworkability could not be covered up any longer. Until very recently the pressure of elite groupthink has been able to maintain a united front of lip service to the cause. But consider a few developments from the past few weeks, just since the end of COP 26:.”
Menton goes on to list three recent illustrations suggesting the renewables push may be waning:
- The Japanese government appears to be quietly discouraging banks from moving out of fossil fuel investment;
- Fifteen state financial officers in the U.S. are resisting bank pressure to stop supporting fossil fuel;
- Europe faces a dire winter because it is relying too much on renewables as “the combination of low natural gas supplies, price spikes, and complete inability to coax more production out of proliferating and essentially useless wind and solar generators” take their toll.
Image of windmill landscape by lucasbieri on Pixabay. Solar farm byfabersam on Pixabay.