And now, when yet another global conflict results in a shock to the economy that was entirely predictable, governments are doubling down on what? Fossil-fuel subsidies.
"We've tried nothing, and we're all out of ideas!"
Predictable, predictable, predictable. And boring!
Look up the authors and their work...Is this Extinction Rebellion IMF & WB?
Anyway, whatever the number, just correct for 150 years of > life expectancy, prosperity and a total collapse of deaths from natural disasters.
So it just shows you the importance of energy security, that's what gov's are paying for. Unfortunately Europe thinks fracking pollutes (not a single study to prove that), that nuclear energy is dangerous and that natural gas is evil.
It's as if the collective grandmothers of Europe have been allowed to undermine, pardon, design, Europe's energy 'strategies'.
'Of course, the problem is that if you charge the true cost of these fuels, you are punishing mostly low-income households'.
Yes, that is exactly what the third author, a boy-man from Colombia with 3 studies to his name, has done, co-authoring a study on Colombia';s decadent turn to renewables under former Marxist guerilla and now El Presidente Petro. As high on climate as he is on gender.
'High-income households can easily afford to pay more for fuel because for them, fuel costs are just a small part of their household expenses'
Well...In Europe it has been the middle- and upper classes who have had their EV's, solar panels. heat pumps (what a disaster) etc subsidized by their govs i.e. by everybody's taxes. Govs who also guaranteed fixed pricing when selling your solar energy back to the gov. While the price of the destabilizing effect on the grid is...for everybody.
'the authors argue that these distributional effects are better dealt with by other government subsidies like means-tested tax rebates or fuel allowances for low-income households'
Read; the more people depend on you, the more power you have. So as heavy industry is leaving Europe the remainder must (also) be subsidized.
Bientôt, nous serons tous Français.
Comrades, remember Schumpeter: capitalism’s success will allow for its undoing. The neat middle classes are coming for their cake.
Accidents aren't the fault of petrol and diesel - ceterus parabus these vehicles are just as dangerous as those fueled by renewable electricity/ethanol etc.
Tesla-style driver assist or self-driving could be added to petrol diesel just as well as they are to electric cars.
I see only one problem with EVs: their battery costs are so high that they require a capital outlay that lower-income households can't afford. Hence, it might well be a useful role for governments to provide low-interest loan support for purchasing EVs.
The U.S. has Fannie Mae and Freddy Mac which intend to make mortgages affordable for the average family. As far as I can tell, in many countries buying an EV on credit is not a good financial idea because banks are not yet sure enough about resale values. The government can subvention the gap, as long as is required for price discovery.
EVs are good. With bi-directional charging via smart meters, they can flatten the energy curve. (They charge up on sunny/windy days for pennies on the dollar, and they can take capacity off the network to reduce the cost of short-term storage). They reduce the dependence on risky foreign fossile fuels. They make it easier to reach greenhouse gas targets. From a national economy perspective, subventioning EVs makes a lot more sense then supporting low fossil fuel prices.
I remember reading something (an energy composition tracker of some kind?) that states most of UK energy is renewables, so much so that we're actively exporting wind iirc. It seems as if the UK (and Germany maybe?) - out of the DM economies - are structurally exposed to high energy prices. I wonder how much energy policy in the aforementioned countries play a role.
We sometimes do export wind energy from the UK to France, but most of the time, we import nuclear power from France to cover our local shortfall. It's a fun exercise to track the electricity trade across europe and the implications for electricity prices...
I recommend the Electricity Maps app for anybody interested in the topic. It's a real eye-opener. It shows not only energy flows world-wide, for instance within Europe. It also shows which kind of energy (nuclear? wind? coal?) flows from whence to whither. It's highly political, too -- showing how Germany, the country that has spent around €500 billion on renewables, still has the second-dirtiest electricity in Europe. (If you meet some German Greens and want to see some proper teutonic frowns, show it to them.)
If it would drive some of the bloated, self-important, self-righteous SUVs and pick-ups (oh, and their owners, too) off the roads, I'd be in favor of having the retail price of petrol in the U.S. shoot up to match its cost.
would be interesting to see the TRUE costs of green energy. I always hear that "die Sonne schickt keine Rechnung" (sun does not send a bill), but let us consider all costs and land usage for building solar and wind infrastructure
And now, when yet another global conflict results in a shock to the economy that was entirely predictable, governments are doubling down on what? Fossil-fuel subsidies.
"We've tried nothing, and we're all out of ideas!"
Predictable, predictable, predictable. And boring!
Look up the authors and their work...Is this Extinction Rebellion IMF & WB?
Anyway, whatever the number, just correct for 150 years of > life expectancy, prosperity and a total collapse of deaths from natural disasters.
So it just shows you the importance of energy security, that's what gov's are paying for. Unfortunately Europe thinks fracking pollutes (not a single study to prove that), that nuclear energy is dangerous and that natural gas is evil.
It's as if the collective grandmothers of Europe have been allowed to undermine, pardon, design, Europe's energy 'strategies'.
'Of course, the problem is that if you charge the true cost of these fuels, you are punishing mostly low-income households'.
Yes, that is exactly what the third author, a boy-man from Colombia with 3 studies to his name, has done, co-authoring a study on Colombia';s decadent turn to renewables under former Marxist guerilla and now El Presidente Petro. As high on climate as he is on gender.
'High-income households can easily afford to pay more for fuel because for them, fuel costs are just a small part of their household expenses'
Well...In Europe it has been the middle- and upper classes who have had their EV's, solar panels. heat pumps (what a disaster) etc subsidized by their govs i.e. by everybody's taxes. Govs who also guaranteed fixed pricing when selling your solar energy back to the gov. While the price of the destabilizing effect on the grid is...for everybody.
'the authors argue that these distributional effects are better dealt with by other government subsidies like means-tested tax rebates or fuel allowances for low-income households'
Read; the more people depend on you, the more power you have. So as heavy industry is leaving Europe the remainder must (also) be subsidized.
Bientôt, nous serons tous Français.
Comrades, remember Schumpeter: capitalism’s success will allow for its undoing. The neat middle classes are coming for their cake.
Accidents aren't the fault of petrol and diesel - ceterus parabus these vehicles are just as dangerous as those fueled by renewable electricity/ethanol etc.
Tesla-style driver assist or self-driving could be added to petrol diesel just as well as they are to electric cars.
I see only one problem with EVs: their battery costs are so high that they require a capital outlay that lower-income households can't afford. Hence, it might well be a useful role for governments to provide low-interest loan support for purchasing EVs.
The U.S. has Fannie Mae and Freddy Mac which intend to make mortgages affordable for the average family. As far as I can tell, in many countries buying an EV on credit is not a good financial idea because banks are not yet sure enough about resale values. The government can subvention the gap, as long as is required for price discovery.
EVs are good. With bi-directional charging via smart meters, they can flatten the energy curve. (They charge up on sunny/windy days for pennies on the dollar, and they can take capacity off the network to reduce the cost of short-term storage). They reduce the dependence on risky foreign fossile fuels. They make it easier to reach greenhouse gas targets. From a national economy perspective, subventioning EVs makes a lot more sense then supporting low fossil fuel prices.
Just so. I had written about this a while ago: https://thinicemacroeconomics.substack.com/p/subsidizing-or-taxing-pollution?r=1oa8fn&utm_campaign=post&utm_medium=web
I remember reading something (an energy composition tracker of some kind?) that states most of UK energy is renewables, so much so that we're actively exporting wind iirc. It seems as if the UK (and Germany maybe?) - out of the DM economies - are structurally exposed to high energy prices. I wonder how much energy policy in the aforementioned countries play a role.
We sometimes do export wind energy from the UK to France, but most of the time, we import nuclear power from France to cover our local shortfall. It's a fun exercise to track the electricity trade across europe and the implications for electricity prices...
I recommend the Electricity Maps app for anybody interested in the topic. It's a real eye-opener. It shows not only energy flows world-wide, for instance within Europe. It also shows which kind of energy (nuclear? wind? coal?) flows from whence to whither. It's highly political, too -- showing how Germany, the country that has spent around €500 billion on renewables, still has the second-dirtiest electricity in Europe. (If you meet some German Greens and want to see some proper teutonic frowns, show it to them.)
Interesting as I was just thinking of this exact question after reading this - https://reneweconomy.com.au/100-pct-renewable-74-pct-of-the-time-how-australias-most-advanced-grid-plans-to-be-an-energy-powerhouse/
Pleased to hear it’s the same positive story in the uk
If it would drive some of the bloated, self-important, self-righteous SUVs and pick-ups (oh, and their owners, too) off the roads, I'd be in favor of having the retail price of petrol in the U.S. shoot up to match its cost.
Watch this video if you have 30 minutes: https://www.youtube.com/watch?v=jN7mSXMruEo
I love Not Just Bikes!
would be interesting to see the TRUE costs of green energy. I always hear that "die Sonne schickt keine Rechnung" (sun does not send a bill), but let us consider all costs and land usage for building solar and wind infrastructure