President JoeBiden wastes scarce capital on green energy dreams, via James Rogan.
. The supply chain for semiconductors for electric vehicles remains too tight. Electric vehicle manufacturers are unable to secure an adequate supply of specialized semiconductors.
Green energy infrastructure projects are also experiencing severe supply constraints both in terms of raw materials cost inflation and also mounting problems in securing the permits necessary to construct wind and solar farms. Biden is reallocating land, labor, and capital from different segments of the economy to his green energy pipe dream.
Green energy zealots are already becoming anxious that Biden’s promises won’t be kept. To achieve the goals, renewable energy deployment must increase by 400% from current levels. The rate of building new interstate transmission lines must double. Yet the typical approval process for new interstate transmission lines is over 10 years. In almost all 50 states, local governments are saying"no" to both wind farms and solar farms.
The green energy goals of the Biden administration are especially illusory in the context of the commitment of both China and India to build more coal-fired plants. Any progress the U.S. makes on reducing greenhouse gas emissions will be overwhelmed by the rise in emissions from Asia. In short, Biden's green energy agenda is incompatible with both the needs of the nation and basic common sense.
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