First, physical realities do not allow for this revolutionary change. Mills’s study points out two core reasons why the “new energy economy” is a mirage. Two years ago, Mark Mills’s “ The ‘New Energy Economy’: An Exercise in Magical Thinking” (Manhattan Institute) memorably exposed the fallacy of Big Green’s “listen to the science.” By documenting physical realities, Mills makes it clear that the crusade to rapidly remove hydrocarbons from the global energy mix is “magical thinking.” Ditto for the heavy, expensive batteries that ruin the economics of vehicles compared to those powered by the internal combustion engine. The perpetual, outsized government subsidization of wind and solar for grid electricity speaks for itself. There is minimal economic risk for such a government-engineered transition, they contend, because renewable-energy technologies are advancing so rapidly. Advocates of rapidly replacing hydrocarbons with a 100-percent renewable energy system insist that the transition has been vetted by experts. “Listen to the science” has become a catchphrase when discussing the future of world energy.
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