Writing in Investor’s Business Daily, William O’Keefe, the chief executive officer of the George C. Marshall Institute and president of Solutions Consulting Inc., says precisely what I and other rational people have been saying for sometime.
Don’t build “green” energy power plants that will produce power for decades at several times the cost of fossil fuel generation. “Invest” — the political word meaning steal tax money and give it to someone you think will put it to better use — in research and development. Invent the better mousetrap instead of building Rube Goldberg contraptions.
This how O’Keefe puts it:
“Today, the U.S. has an abundance of natural gas, enough to meet our needs for a century. Clean and affordable, it is replacing coal as the source of electric power generation because of its abundance and cost. It also holds promise as a transportation fuel for centrally fueled vehicles because of its cost advantage.
“Alternative energy — wind, solar, biofuels — have fallen short of their promise. They simply are not ready to displace conventional energy sources any time soon. Cellulosic technology is far from commercially viable. Wind and solar are unsuitable for baseload power because they are intermittent, dispersed sources that lack storage for transmission.
“Rather than attempt to force them to market with mandates and subsidies, the national interest would be better served through incentives, like the R&D tax credit, to spur investments in technology, and through government research focused on creating new knowledge.”