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Richard A. Epstein

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Hoover Institute, Defining Ideas, February 19, 2019, 2 pgs.


Reviewer Comments: The author focuses on the actual, real world, energy supply industry.


Dr. Epstein maintains that fossil fuels will remain the main source of world -wide energy for the 'foreseeable' future. This, even though there are many groups exerting political power to subsidize wind and solar energy sources. A 'fatal' problem for these is that wind does not blow steadily and the sun does not shine at night nor in stormy weather. And they also do produce energy when it is not needed.


He believes that instead of subsidies for wind and solar investment should be focused on making the existing fossil fules more inexpensive. He points to the development of 'fracking' which has dramatically increased supply while reducing costs. He notes that the world-wide increase in Carbon Dioxide since 1950 had not created a significant negative effect.


He also notes that there has been no breakdown in the world economic system. In fact the U.S. economy has been expanding. Turning to a comparison between the FDR created New Deal and the GND proposed by Alexandria Ocasio-Cortez he first lists the positive and negative results of the former. For the latter he has only negative actions and results to discuss.


He descibes some of the specific mandates being proposed that have nothing to do with climate or even 'green' energy.


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