Wednesday, December 1, 2021
Home Middle Column NY Times op-ed: 'A Sad Green Story' -- 'Suddenly, green tech looks...

NY Times op-ed: ‘A Sad Green Story’ — ‘Suddenly, green tech looks less like a gleaming beacon of virtue and more like corporate welfare, further enriching already affluent investors…’

-

Excerpts NY Times: David Brooks:

Governments around the world were also doing it, and the result has been gigantic oversupply, a green tech bubble…[Solar panel] prices have fallen by three-fourths since 2008. Manufacturers will need huge subsidies far into the future — as Bradsher writes, ‘a looming financial disaster.’ The U.S. share of the global market, meanwhile, has fallen from 7 percent to 3 percent since 2008.

The biggest blow to green tech has come from the marketplace itself. Fossil fuel technology has advanced more quickly than renewables technology. People used to worry that the world would soon run out of oil, but few worry about that now. Shale gas, meanwhile, has become the current hot, revolutionary fuel of the future.

Writing in Foreign Policy magazine, Daniel Yergin projects that in 2030 the worldwide fuel mix will not be too different than what it is today. …All in all, the once bright green future is looking grimmer. Green tech is decidedly less glamorous, tarnished by political and technological disappointments….

But he who lives by the subsidy dies by the subsidy. Government planners should not be betting on what technologies will develop fastest. They should certainly not be betting on individual companies.This is a story of overreach, misjudgments and disappointment.

- Advertisment -

Related Articles

CBC Understands the Difference Between Weather and Climate, Other Canadian News Outlets Don’t

What we have across the region is a modest 100 year rise in average temperatures, with no measurable long-term increase in extreme weather events,...

Why so torqued up about Suzuki’s comments? Did you sleep through the first two acts?

The phrase climate emergency crept into the global lexicon because extremists ran wild, unchecked. We now have horror-inducing descriptions of every weather event. A...

Asian climate variability and dynamics across early-to-middle pliocene warm period provide clues for future climate change

A recent study by an international research group led by Prof. AO Hong from the Institute of Earth Environment of the Chinese Academy of...