Skip to main content

A New New Green Deal

The sub-head on this reads: Bernie Sanders Unveils His $16 Trillion Green New Deal. 

I don't normally cover politics, but when candidates start promoting plans that have dire economic consequences, I think we should all pay attention. I'll list some of his proposals and why they are not tenable.

But first, let's look the progress that has been made and what plentiful energy has done for our Gross Domestic Product and overall well-being. The following two charts show this.

Now that this is out of the way, let's look at Bernie's plan: 
  • No more fossil fuels. “Reaching 100 percent renewable energy for electricity and transportation by no later than 2030 and complete decarbonization by 2050 at latest.”  I don't know what decarbonization actually means, since it's really not a word. I assume it means no use of carbon-based fuels. Also, most studies show that 100 percent renewable for electricity and transportation is not technically feasible in 10 years; we probably can't afford it anyway. I live in Georgetown, Texas, which claimed at one point to have 100 percent renewable sources. Yet the city utility system is going broke because of the higher cost of renewable energy, and when the wind doesn't blow and/or the sun doesn't shine, the city must buy electricity off the grid. To make matters worse, the city contracted for so much renewable energy, that when supply outstrips demand, the utility system must sell back the excess to the grid at lower prices. Residents are now paying the most per kilowatt hour of anyone in the state of Texas. The left-wing Vox magazine doesn't think it's possible in 10 years, and maybe not even in 30.
  • No nuclear power. "To get to our goal of 100 percent sustainable energy, we will not rely on any false solutions like nuclear, geoengineering, carbon capture and sequestration, or trash incinerators." This limits our options. Let's take France, for example. Nuclear power is the largest source of electricity in France, about 70 percent. France's carbon emission per Kwh are less than 1/10 that of Germany and the U.K. Its emission of nitrogen oxide and sulfur dioxide have been reduced by 70 percent over 20 years. Unlike its neighboring countries of Germany, Italy and the United Kingdom, France does not rely very much on fossil fuels and biomass for electricity or home heating thanks to an abundance of cheap nuclear power. Taken as a whole, the country therefore has superior air quality and lower pollution related deaths.
  • Electric cars for everyone. Provide $2.09 trillion in grants to low- and moderate-income families and small businesses to trade in their fossil fuel-dependent vehicles for new electric vehicles.” I'm planning a trip to Michigan this fall, which is about 1,200 miles one-way. The longest range electric car today is the Tesla S model, at 250 miles. I don't want an electric car. 
Other points in the plan include no more diesel trucks, fully decarbonize (there's that word again) the airline industry, return of the Civilian Conservation Corps, suing the fossil fuel industry, making the fossil fuel industry illegal, and expansion of food stamps,  

How to do we pay for this? Other than higher taxes for just about everything and everyone, make the fossil fuel industry pay. But if they are illegal, how does that work? 

This doesn't include his plans for government takeover of the health care industry and education. 

Sounds like Fascism to me. 


Popular posts from this blog

What happened when a Trump Supporter Challenged Me About the Wall

Vicky Alvear Schecter wrote in Medium | Poltics on Dec. 27, 2018 using her headline above. I thought it was pretty well written -- at least she made an attempt to keep her liberal bias out of it -- regardless of a few illogical fallacies

But she does make an attempt, in an effort to avoid her liberal bias, as she ponders  " order not to be accused by bias, I explained that I would only use conservative sources to prove my point."

To me, that's bias to start out with that premise. And I believe her premise is that she is against the wall. That's her stance. But she makes some good points, but some are skewed, even though she attempt to take a "conservative" approach, even by citing some "conservative" sources in her footnotes.

Here's the first problem: if she wanted to avoid bias, why not just stick to the the historical facts as written (when you can find them without bias), and not concern oneself with bias. "I must reject that becau…

Weekly wrap for Nov 9

After Thursday and Friday, it might seem the markets are down, but the weekly numbers tell a different story, with the three major indices up for the week. The Nasdaq, with its tech exposure, had the smallest increase. The tech sector is obviously under recent pressure. 

IndexNov 2Nov 9+/-%S&P 5002,723.062,781.01+ 57.95+ 2.12%Nasdaq7,356.997,406.90+ 49.91+ 0.67%DOW 3025,270.8325,989.30+ 718.47+ 2.84%
Over the last 12 months, the Dow is up 10.77 percent, the SP 500 up 7.6 percent, and the Nasdaq up 9.7 percent.  

The weekly chart of the SPY still indicates a long position in the broader market. (The blue line is the 34-week moving average; the red is the 13-week moving average).

While the U.S. economy still seems to be just fine from most reports, investors seemed to worry about a couple of things on Thursday and Friday: 1) The Eurozone, 2) trade with China, and 3) the Fed and interest rates. Another topic of interest has been oil. 

First, it seems that the Fed has really not indicated …

U.S. Top Oil Producer, Thanks to Obama

\ You read that right.

The U.S. is now the largest oil producer in the world, according to the EIA, producing some 15 million BOE per day, surpassing Russia and Saudi Arabia. (Remember back when Jimmy Carter said in 1979 the answer to our energy problems was to wear a warmer sweater...but you probably don't. He actually said this on national TV).

The United States is the top oil-producing country in the world, with an average of 14.86 million b/d, which accounts for 15.3% of the world's production. This is down from 15.12 million b/d in 2015, but it was enough to land the United States in the No. 1 spot, which it has held for the past four years running. (Source: Investopedia.)

Guess who takes credit for it? Granted, this increase in production began in 2012, but only because of private industry and the fact that the price of oil was at nearly all-time highs. And it dipped in 2016 because of Obama's anti-oil policies! 

But here he is again

Former President Barack Obama sure l…