Don’t bet on green energy

Groupthink has blinded us into backing solar and wind. Will a big short make us see sense?

John Constable, Debra Lieberman

SMALL MISPERCEPTIONS OF VALUE create opportunities for those seeking to profit from eventual market corrections. Such minor prospects are common. But extraordinary opportunities are offered by gross misperceptions. However, they are very rare. Nevertheless, they do exist, and we are living through one now: a deep, widespread error in global understanding of investments in and policies relating to the provision of fuels. This has resulted in a drastic overestimation of the viability of renewable energy, and an undervaluation of fossils and nuclear. Contrary to popular opinion, renewables have no future free of subsidy, and, paradoxical though this seems, they are harming worldwide climate policy. Conventional energy remains essential for the creation and maintenance of human wellbeing, and thus there is a strong case for a green short, driven by individual…

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The Critic (Digital) - 1 Issue, October 2024

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