DAVID BLACKMON: Is The Green Energy Transition Falling Off The Rails?
Story by David Blackmon •
14h
Is the much-hyped “energy transition” starting to crumble at its foundations now? In recent weeks we have seen the following:
Ford Motor Company warns investors its electric vehicle division will lose $4.5 billion in 2023;
Reports that China has commissioned another 50 GW of new coal-fired electricity generation capacity;
The British government led by Prime Minister Rishi Sunak beginning to back away from absurdly aggressive transition timelines amid public outcry over rising energy bills and other deprivations;
The German government continuing to reactivate mothballed coal plants and facilitating new mining for coal;
The Scottish government forced to admit it has facilitated the felling of 16 million trees in this century to make way for new wind farms;
The Japanese government moving to reinvigorate its own coal-fired power sector;
Global demand for crude oil rapidly growing and outpacing supply growth, surprising all the supposed experts;
The U.S. Department of Energy forced to admit its initial estimate of consumer “savings” from converting from gas stoves to more expensive electric models was grossly overstated.
https://www.msn.com/en-us/money/markets/david-blackmon-is-the-green-energy-transition-falling-off-the-rails/ar-AA1f2odF?ocid=msedgntp&cvid=18f5504074724fbebba845dc6ee2a941&ei=20
