Power is the natural monopoly of politics.
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Sub-Saharan Africa's GDP per capita peaked in 2014, and since has fallen ~10%. On current trends, it would not retain the 2014 level until 2033, implying a second lost decade.--Blas
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India, the second-largest sender of students to the United States, is fast catching up to China.
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24% of consumers are still paying off their Christmas debt from 2022
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Today’s installment in the endless epic about the exciting surprises involved in industrial policy concerns wind. Not the vagaries of its occurrences, but the predictable problems that are startling governments and their corporate accomplices as they attempt to harness wind to wean humanity away from less pristine means of generating electricity.
Your federal government is using taxpayers’ money to bribe, with various subsidies, automakers to make more electric vehicles than taxpayers want. So, the government is bribing taxpayers with their own money to buy EVs; the bribes are substantial because EVs typically cost more than other vehicles. Simultaneously, the government is using taxpayers’ money to drive a conversion to, among other renewable energy sources, wind-generated electricity, which potentially will increase taxpayers’ electricity bills.
What (else) could go wrong? New Jersey, which is controlled by Democrats and hence is enthusiastic about wind, is disappointed. The Danish company Orsted, the world’s biggest developer of offshore “wind farms,” was planning to build two of them off portions of the state’s 130 miles of Atlantic coastline. Orsted has changed its mind. It prefers a write-off of as much as $5.6 billion rather than proceed with the projects, which have become too expensive.
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Russia, Iran and Venezuela — among other unsavory actors — might reap a windfall from green energy policies. Benjamin Zycher of the American Enterprise Institute notes that the Biden administration has proposed for the five years after 2024 just three sales in its offshore oil and gas leasing program, the smallest number in the program’s history. The plan would block additional leasing off Alaska and in the Atlantic and Pacific oceans.--will
Wind and Hot Air
Today’s installment in the endless epic about the exciting surprises involved in industrial policy concerns wind. Not the vagaries of its occurrences, but the predictable problems that are startling governments and their corporate accomplices as they attempt to harness wind to wean humanity away from less pristine means of generating electricity.
Your federal government is using taxpayers’ money to bribe, with various subsidies, automakers to make more electric vehicles than taxpayers want. So, the government is bribing taxpayers with their own money to buy EVs; the bribes are substantial because EVs typically cost more than other vehicles. Simultaneously, the government is using taxpayers’ money to drive a conversion to, among other renewable energy sources, wind-generated electricity, which potentially will increase taxpayers’ electricity bills.
What (else) could go wrong? New Jersey, which is controlled by Democrats and hence is enthusiastic about wind, is disappointed. The Danish company Orsted, the world’s biggest developer of offshore “wind farms,” was planning to build two of them off portions of the state’s 130 miles of Atlantic coastline. Orsted has changed its mind. It prefers a write-off of as much as $5.6 billion rather than proceed with the projects, which have become too expensive.
…..
Russia, Iran and Venezuela — among other unsavory actors — might reap a windfall from green energy policies. Benjamin Zycher of the American Enterprise Institute notes that the Biden administration has proposed for the five years after 2024 just three sales in its offshore oil and gas leasing program, the smallest number in the program’s history. The plan would block additional leasing off Alaska and in the Atlantic and Pacific oceans.--will
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