Trump Administration Puts Subsidized Green-Energy Companies on a Diet

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heritage.org

Preston Brashers, Andrew Weiss
While Elon Musk and the Department of Government Efficiency garner most of the media attention, they aren’t the only ones rooting out federal waste and bloat. Currently, EPA Administrator Lee Zeldin is fighting to claw back $20 billion the Biden administration allocated to the “Greenhouse Gas Reduction Fund.”

This fund essentially operates a “green bank” that lends money to environmental projects unable to attract private funding.

This may sound like a fine program, but as Mr. Zeldin knows, reliable diets of taxpayer subsidies cause companies to develop a dependence, eventually killing their ability to fend for themselves.

Even the best-intentioned programs can render an industry unable to survive without government support. And the $9 trillion in global subsidies for wind and solar over the past 20 years are a prime example of this.

 Our Energy Crisis Has a Nuclear Solution

When former President Biden signed into law the Infrastructure and Jobs Act and the Inflation Reduction Act, he allocated hundreds of billions of taxpayer dollars to renewable energy. Without such subsidies, wind and solar wouldn’t be commercially viable at anywhere near their current scale.

Normally, competition and price signals establish a balance between energy supply and demand. But subsidies distort price signals, disrupting that natural balance. Ultimately, they drive unsubsidized companies out of business, making the industry less cost-conscious and more focused on chasing subsidies.

Worse, overreliance on so-called renewable energy also makes the grid less reliable. The higher the share of intermittent energy sources on the grid, the harder it becomes to match supply with demand.

Take solar power, for example. It abounds during the day, but is lacking in the evening—the exact time when people typically want to cook, run dishwashers, power up their computers, and take showers.

Relying on a high share of energy from solar power results in an oversupply of power during daylight hours.  » Read More
https://www.heritage.org/energy/commentary/trump-administration-puts-subsidized-green-energy-companies-diet

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Web Logs
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PaperlessTimes is really just a hobby site comprised of some of my favorite and most read conservative leaning sources.  The main idea is just aggregate RSS feeds centralized in one area so I can simply take a quick look at the latest articles and pop on over to the full article if wanted; saves a bit of time from going from site to site looking for something that might interest me.

I long ago lost any faith in what is commonly known as mainstream “news” recognizing that it’s not just how a story is framed, but also what is omitted in what passes for information these days.  There are many, many great authors and thinkers in conservative thought who have the freedom to focus not on narrative and instead on substance.

This is always a work in progress for my own use, but if you find it useful, that is awesome.  If there’s a feed you read that you would possibly like added, (always interested in expanding), have any complaints or suggestions, feel free to use the contact form .  There is a bit of marketing on this site which is more of a test run for developing stuff.  If anything catches your eye, buy away, for it does go to me.

thanks, Steve

 

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