excalibur
Diamond Member
- Mar 19, 2015
- 18,412
- 35,011
- 2,290
This seems to be the entire purpose of the Biden Junta and the Democratic Party.
Screw over Americans and then pretend to have another solution.
Forward!
In reality, the IRA has a limitless price tag due to its 1) limitless number of years, 2) limitless dollars per year, 3) limitless harm to our grid.
If the âgreenâ sources the IRA was subsidizing were actually on the verge of being cheap, they wouldnât need to be subsidized.
The IRAâs cost is limitless:
While we were led to believe the IRAâs âgreenâ subsidies, mostly for solar and wind, would last 10 years, they actually continue indefinitely until America reaches an emission level even the Biden Admin says we wonât reach by 2050!
While IRA advocates and the CBO have calculated government expenditures on the order of $400 billion for the IRAâs energy and climate policies over the next 10 years, that could easily be an underestimate by a factor or 3 or more.
Not only will the IRAâs subsidies last far longer than the decade we were pitched, and not only will those subsidies likely be far higher per year than we were pitched, butâworst of allâthe IRA has a limitless ability to harm our grid.
Screw over Americans and then pretend to have another solution.
Forward!
In reality, the IRA has a limitless price tag due to its 1) limitless number of years, 2) limitless dollars per year, 3) limitless harm to our grid.
- The promise that for just $400 billion the IRA would give us cheap âgreenâ energy never made sense.
If the âgreenâ sources the IRA was subsidizing were actually on the verge of being cheap, they wouldnât need to be subsidized.
- If the IRA was trying to make low-carbon energy cheapâwhich is the only way to lower global CO2 emissions long-termâit would have focused on liberating low-carbon energy production from the anti-development âgreenâ regulationsthat hold back nuclear, geothermal, and natural gas.
- The real goal of the IRA was to pretend to do something about global CO2 so as to wildly enrich âgreenâ companiesthat are unable/unwilling to compete on a real marketâabove all solar/wind companies, who successfully lobby to be paid a (subsidized) premium for unreliable power!
- Given that the IRAâs promise of $400 billion in subsidies leading to lower costs was a lie, it should be no surprise that the $400 billion number is a total lie.
The IRAâs cost is limitless:
- It lasts a limitless number of years
- It costs limitless dollars per year
- It does limitless harm to our grid.
- The IRA lasts a limitless number of years
While we were led to believe the IRAâs âgreenâ subsidies, mostly for solar and wind, would last 10 years, they actually continue indefinitely until America reaches an emission level even the Biden Admin says we wonât reach by 2050!
- The IRA specifically states that its stream of lavish subsidies for green energy projects will last at least until 2032, but it will only end if the CO2 emissions of the electricity sector are below 25% of their 2022 levels.That is very likely to be far, far more than 10 years.
- Recent projections by the Biden AdminâsEnergy Information Administration (EIA) indicate that the CO2 emissions of the electric sector will not go down to 25% of current emission levels before 2050! That means the IRA subsidies will last more than 26 years!
- Any calculation of the IRAâs cost needs to be based on a realistic projection of when electricity CO2 emissions will go below 25% of their current levels. And given the Biden Adminâs biases their after-2050 estimate should be suspected to be overly optimistic.
- 2. The IRA costs limitless dollars per year.
While IRA advocates and the CBO have calculated government expenditures on the order of $400 billion for the IRAâs energy and climate policies over the next 10 years, that could easily be an underestimate by a factor or 3 or more.
- When the public hears a number like $400 billion in subsidies, few know that this is not a fixed number. It is an estimate based on how many companies choose to take advantage of the subsidies.
- As Al Gore celebrated at the recent World Economic Forum, companies are scarfing IRA subsidies. Gore said he was âvery encouragedâ by the prospect of âactually open-endedâ subsidies. Gore being âvery encouragedâ about subsidies means we should be âvery discouragedâ about cost.
- While the CBO and partisan analysis projected that the IRAâs green energy and climate provisions would cost less than $400 billion over a decade, analysis by Goldman Sachs indicates that the uncapped subsidies could balloon 3 times to $1.2 trillion.
- As reported by the Wall Street Journal, by âGoldmanâs estimate, the IRA tax credits will cost tens to hundreds of billions more than CBO estimated over 10 years.â This includes almost $400 billion of additional EV subsidies alone and over $80 billion more for solar and wind electricity generation
- In addition, investors in solar and wind are incentivized by the IRA to use particularly costly solar panels and wind turbines manufactured in the hostile environment of US regulations, which means higher subsidies for every project.
- 3. The IRA does limitless harm to our grid.
Not only will the IRAâs subsidies last far longer than the decade we were pitched, and not only will those subsidies likely be far higher per year than we were pitched, butâworst of allâthe IRA has a limitless ability to harm our grid.
- Weâre in a growing electricity crisis caused by shutting down reliable power plants and not replacing them with reliable power plants.
How Greening the Economy Will Destroy America
Brain-dead Biden and his gang of neocon controllers want to âgreenâ the economy. They use the phony âclimate changeâ hoax,
discernreport.com