Wednesday, February 6, 2019

Green Deal Goes Bust

Is the "Green Deal" already dead?
Green New Deal critics say the omission of a fossil fuel ban as an admission that moving the U.S. to 100 percent renewable energy within 10 years is politically and technologically infeasible.

“It’s easy to declare the end of fossil fuels, but actually crafting a plan to destroy the economy is both bad policy and bad politics,” said Texans for Natural Gas spokesman Steve Everley.

“We eagerly await the next walk-back from supporters of the Green New Deal,” Everley said.

Indeed, the U.S. gets 80 percent of its energy from coal, natural gas and oil. Just replacing the infrastructure would cost trillions of dollars and likely take decades even with a “Green New Deal.”

“We have a $20 trillion economy that rests on an energy foundation that’s been developed over a century. It doesn’t go away overnight,” IHS’s Yergin told E&E News.
How much green would a Green Deal really cost?

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