The Renewables Part IV: The High Cost of Energy Transition

Over the past few years, a very encouraging slowdown has taken place in the growth of fossil fuel consumption across the globe. Oil, natural gas, and coal, have endured steady price declines, as demand has failed to fully recover. Meanwhile, in large countries like the United States and China, where deep concerns about pollution and climate have steadily been transformed into political momentum, the buildout of new wind and solar capacity has been rapid, if not astonishing. We can think of this ...