Posts tagged “bernie sanders”
In last week’s post — If We Only Had a Stable Energy Policy — I mentioned three specific examples of legislation under consideration that create uncertainties within U.S. energy policy. These uncertainties increase the financial risks for those trying to develop energy projects — both for conventional fossil-based projects and for renewable energy projects.
One piece of energy legislation that was recently introduced is called the End Polluter Welfare Act. It was introduced by Senator Bernie Sanders, an Independent from Vermont, along with Minnesota Democratic Congressman Keith Ellison. CONTINUE»
I often hear the comment — “If we only had an energy policy” — but what does that really mean? In this column I will provide three examples — originating with both Democrats and Republicans and impacting both renewable energy and fossil fuels — of how constantly shifting legislation makes it very difficult to plan and execute energy projects.
Imagine that you were considering buying a home. However, let’s say your income is inclined to wild swings and the mortgage interest deduction is only approved on a year by year basis. Perhaps it is allowed to expire on occasion. In a situation like this, you would be wise to be very conservative with your purchase, or to even forego the purchase altogether.
This is analogous to the way energy companies plan and execute projects. Decisions hinge on the economics of the project. These projects are large capital expenditures and they only pay out over many years. Thus, when considering the economics of a project, it is important to have a stable environment around regulations and tax policies. Failure on these two items makes for dysfunctional energy policy.
Senator Bernie Sanders is using Grist Magazine to lobby against government assistance for nuclear energy on the grounds that it’s a mature industry. I might agree with him if it really were a mature industry and if renewables really could carry the day without it. But it isn’t, and renewables can’t. It always irritates me to watch ignorant politicians screw with my children’s futures. As sometimes happens with my long-winded comments, the one I left over there got large enough to convert into a post over here.
Senator Sanders may have good intentions, but what’s new? We don’t need any more roads to hell paved by those. He’s just another member of the generation that has been systematically misinformed by “the end justifies the means” anti-nuclear lobby and our sensationalist for profit lay media.
An earlier article on Grist recently (and inadvertently) demonstrated with a simple graph that the most optimistic estimates for renewable energy do not come close to meeting our energy needs, all cost issues aside. CONTINUE»