Unintended consequences don’t mean unpredictable results. The drive among developed nations to replace fossil and nuclear power with renewables has had political support. Windmills and solar panels dot the landscape. Leaders and the media tell us these are the power sources of the future. Given these forecasts, only fools invest in fossil fuels. Everyone knows Nuclear power is so dangerous people have to be crazy to operate a reactor of any kind. The sooner we get rid of these relics of our unenlightened past, the better.
Nowhere has this Green mantra taken hold with more incredible speed than Western Europe. Coal mines and power plants abandoned ghosts. After the flooding of the Japanese Fukushima nuclear power plant, Germany decided to close all its nuclear plants. The world was made aware of how virtuous these nations had become. They may spend a little more, but it’s worth it to save the world.
Of course, the spoilsports asked what would happen if the sun didn’t shine or the wind didn’t blow? Not to worry, the greens answered, we’ll have backup batteries and some natural gas plants to tide us over.
Murphy’s Law states, “Anything that can go wrong will go wrong.” This summer, the sun didn’t shine, and the wind didn’t blow in western Europe. What’s the result?
According to CNBC, “Wholesale gas prices have spiked across the region, with the U.K. being hit particularly hard.” U.K. power companies are facing collapse. The batteries don’t exist. How do you cope with a 250% rise in natural gas prices?
Pay up or close down is the stark choice facing many companies. Consumers are startled by soaring prices. Now everyone asks how we got in this fix?Continue reading