Alex Epstein Profile picture
Sep 12, 2020 12 tweets 4 min read Read on X
Media coverage of the CA wildfires is designed to do 2 things: 1) Get us to ignore the fundamental role of "green" forest mismanagement in causing the out-of-control fires. 2) Get us to ignore the CA blackouts and the fundamental role of "green energy" policies in causing them.
California is experiencing blackouts because of "green" policies that reward or mandate unreliable electricity from solar and wind and punish or outlaw reliable electricity from nuclear, natural gas, coal, or hydro. We need to understand and apply this lesson this election.
Fact: electricity producers know how to produce enough reliable electricity for virtually any situation--certainly plenty for the heat wave CA has been experiencing this year. All you need to do is build enough reliable power plants: nuclear, natural gas, coal, or hydro.
CA, attempting a mini-mini-Green New Deal, decided to mandate that a lot of the electricity generated in the state had to come from unreliable, "renewable" solar and wind electricity. We shut down reliable gas and nuclear plants to hit our renewable targets.
While California was boasting about its increasing use of "unreliables"--@KamalaHarris called it a "model"--the reality was that it was becoming an electricity parasite, hugely dependent on reliable gas, nuclear, and coal plants from neighboring states such as AZ, NV, and UT.
What happens to a state trying to rely on "unreliables" when there’s a regional heat wave? The wind dies down. The sun dies down daily. This meant CA needed more electricity from the states with “reliables”--but they need more, too, so they sent CA less. Surprise...blackouts!
Everyone needs to learn from CA's blackouts--and fast. Policies mandating unreliable solar and wind electricity are making our electricity grid more unreliable every year. If we do not make reliability a priority we will become a third-world grid with frequent blackouts.
Nationally we face the prospect of frequent "green blackouts" thanks to a cocktail of 3 bad policies: 1) mandating unreliables (solar and wind), 2) prematurely shutting down ultra-reliable coal and nuclear plants while 3) stopping the construction of natural gas infrastructure.
What is @JoeBiden's answer to the CA blackouts? His "plan" would make them nationwide and frequent via 1) more mandating unreliable solar and wind, 2) more shutdowns of ultra-reliable coal and nuclear plants, and 3) more obstacles to urgently-needed natural gas infrastructure.
Blackouts aren't the only problem with green energy policies. The main problem is cost. Because wind and solar are unreliable they can’t replace our reliable power plants, only duplicate or supplement them at tremendous cost. Even when CA electricity is working it's expensive.
Every candidate who supports mandating "unreliables," let alone the Green New Deal or @JoeBiden Plan, should be reminded of the utter failure the mini-mini-GND/Biden-Plan has caused in California. I hope @realDonaldTrump raises this in the debates and uses the term "unreliables."
There is no world in which mandating "unreliables" makes sense. If you want to lower CO2 emissions, decriminalize reliable nuclear energy--something the @JoeBiden plan completely fails to do. For a real, pro-freedom, pro-nuclear energy policy go to EnergyTalkingPoints.com.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Alex Epstein

Alex Epstein Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @AlexEpstein

Apr 27
Canada has 3X the US’s oil reserves but less than 40% the production.

Why? Anti-oil politicians like Mark Carney who say they’re protecting Earth’s coldest country from global warming.

Here's the story of Canada's squandered oil opportunity—and how to reverse it 🇨🇦👇 Image
*Canada has the greatest oil opportunity on Earth: > 3 times the reserves of the US, with lower production costs.*

Canada has 170 billion barrels of proven oil reserves—by far the largest of any free country. And its producers can profit at $44 oil, vs. >$57 for US shale.

Canadian oil production is also continuing to get cheaper. Oil sands operating costs have dropped 19% over the past five years, and the industry—which is still fine-tuning how to coax oil-like bitumen out of oil sands—has substantial room for further cost reductions.

In addition to its massive proven oil reserves, Canada also has massive unexplored oil resources. Canada’s Northwest Territories may contain up to 37% of Canada’s total oil reserves, much of it light crude, which is even cheaper to extract and transport than bitumen from oil sands.
*Canada is squandering its oil opportunity, with < 40% of US production and much slower growth.*

Given Canada's massive oil reserves and lower production costs, Canadian oil should have been growing far faster than US oil—on a path to producing even more oil than the US does.

Instead, Canada is totally squandering its oil opportunity, with less than 40% of US production and slower growth since 2010.Image
Read 12 tweets
Apr 25
Why Congress's new budget should eliminate all IRA "tax credits"

1. They are subsidies
2. They promote inferior energy
3. They raise energy costs
4. They make energy unreliable
5. They increase our debt
6. They make our economy less productive
7. They don't lower CO2 emissions
*Truth 1: IRA energy tax credits are really just subsidies*

Real tax credits let productive industries keep/reinvest more of their profits.

Most IRA "tax credits" are transferable tax reduction certificates that unprofitable industries trade for cash. I.e., subsidies.

A tax credit lets productive industries pay less tax on profits, which enables them to reinvest in additional productivity.

But most IRA "tax credits" support activities that are unprofitable on a free market—e.g., solar, wind, hydrogen—and therefore have no taxes to reduce with credits.

How can unprofitable activities be set to get a trillion dollars in IRA "tax credits"?

Because they are aren't really tax credits but *transferable tax reduction certificates* that can be easily sold for cash to profitable companies (and sometimes the government itself).

Giving a trillion dollars in transferable tax cut certificates to unprofitable activities that pay no taxes is no different than giving transferable tax reduction certificates to individuals who pay no taxes.

It's a trillion dollar subsidy, not a tax credit.
*Truth 2: Every IRA subsidy promotes inferior energy*

Every subsidy has lobbyists who say it's somehow improving American energy.

But the fact is, they are demanding subsidies because the energy they are pushing is inferior and couldn't survive or thrive on a free market.

The IRA's "45Y" and "48E" subsidies will give $241-901 billion to companies for "clean electricity," mostly intermittent solar and wind—which would be used far less in a free market because they are so unreliable. E.g., CA has chronic reliability problems from depending on solar.

The IRA's "45X" Advanced Manufacturing Production subsidies will give companies $132-193 billion to inefficiently manufacture batteries, as well as the solar panels and wind turbines that are created huge reliability problems on our grid and increasing the cost of electricity.

The IRA's "30D," "25E," and "45W" subsidies will give $117-393 billion to companies for EVs—whose mix of cost and (in)convenience most consumers won't pay market prices for, and therefore need huge subsidies as well as mandates to buy.

The IRA's "45Q" subsidies will give companies $34-210 billion to capture CO2 and pump it underground—a process companies would use very little on a free market since it's so costly. E.g., carbon capture for a coal plant costs 4 times the price of the coal!

The IRA's "45V" subsidies give companies $33-100 billion for hydrogen fuel—which would exist very little in a free market because it's so expensive to make. Hydrogen costs 10 times what gasoline does for the same energy! And favored "green" hydrogen is even more!

The IRA's "45Z" subsidies will give companies $43 billion for various "clean fuel" projects, mostly biofuels—which would be used far less in a free market since they are expensive to produce and compete with food for cropland.

The IRA's "25C" and "25D" subsidies will pay (mostly wealthy) property owners $28-276 billion to use government-favored "energy efficiency" technologies like solar panels and heat pumps that they wouldn't otherwise use or be willing to pay for.
Read 10 tweets
Mar 28
⚠️ WARNING: The secret UN carbon tax that's about to fleece America

Next week, the UN votes on an ocean carbon tax that would spike the price of food, fuel, and everyday essentials—hitting US the hardest.

Here's what the admin and Congress can do to stop this in its tracks👇🧵 Image
The UN's International Maritime Organization (IMO) is supposed to ensure safe shipping around the world.

Instead, it's pushing a carbon tax on shipping fuel, with proposals ranging from $19 to $150/ton of CO2—the equivalent of adding $1.29 to the price of gasoline! Image
A $150/ton carbon tax on shipping would double fuel costs for large ships.

The marine fuel oil used to power most large ships costs ~$400/ton. Since burning one ton of marine fuel oil produces ~3.2 tons of CO2, a $150/ton carbon tax adds ~$480/ton—roughly doubling today's price.
Read 11 tweets
Mar 12
Did the EPA really just take the "Biggest Deregulatory Action in U.S. History"?

Actually, yes.

Here are 18 important deregulatory actions EPA announced today, and why they will make life better for all of us.

🧵👇
1. "Reconsideration of regulations on power plants (Clean Power Plan 2.0)"

These Biden regs would effectively ban all coal plants and new natgas plants by demanding impossible 90% carbon capture.

Reconsidering them is essential to preserving the grid and unleashing electricity.
2. "Reconsideration of light-duty, medium-duty, and heavy-duty vehicle regulations"

These Biden regs paved the way for the EV mandate by imposing unachievable emission standards on gas vehicles.

Reconsidering them is essential for preserving automotive choice.
Read 20 tweets
Mar 12
Amazing news: @EPA is challenging the single most destructive regulatory action in US history: the "endangerment finding."

This bogus "finding" allowed Obama/Biden to ban gas cars, shut down power plants, slow US oil growth, and lock up our limitless natural gas.

Full story 👇
Ever wonder why the Biden EPA was able to become an economic dictator, prohibiting most Americans from buying a gas car after 2032 and effectively banning all coal plants and new natgas plants after 2039?

It started with the Obama EPA's bogus "endangerment finding."
In 2009, the Obama EPA issued a "finding" that GHGs "endanger both the public health and the public welfare of current and future generations."

But GHGs mostly come from fossil fuels, which on net had clearly been enhancing health and welfare—and would continue doing so.
Read 13 tweets
Jan 15
It may seem impossible, but 4 years from now America can have

1. Record oil and gas production

2. Cheap, plentiful, reliable electricity

3. High environmental quality

4. Low climate danger

5. A nuclear renaissance

Here are the 25 policy changes that will get us there.

👇 Image
1: Unleash responsible development on federal lands/waters

Anti-development policies prevent us from tapping enormous energy reserves on federal lands/waters.

Responsible development can unlock the full energy potential of ¼ of the US (!) while protecting environmental quality.
2: Limit NEPA

The leading source of project delays is the abuse of NEPA (National Environmental Policy Act) to require endless environmental reviews.

Dramatically limiting NEPA's complexity and scope will help all energy reach its potential, from oil to nuclear to geothermal.
Read 28 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(