AEP’s Renewable Fantasy
By Paul Homewood
Ambrose Evans-Pritchard really does write some drivel at times. Take this example from his latest article on Hinkley Point, which I highlighted earlier:
It is much the same story across the nexus of clean energy technologies. The US and China were shocked by the energy crisis in 2007-2008, fearing a threat to national security. Each has since launched a massive push for alternative home-grown sources of power and fuel, and for ways to cut use.
There is no doubt that the oil price spike then led to a re-think of energy policies. But what have the two countries actually done since?
We all know that Obama has done his utmost to shut down the US coal industry and restrict development of oil and gas fields. Nobody would seriously argue that these actions will enhance national energy security. On the contrary, they will only serve to increase reliance on foreign sources of energy, not to mention Chinese solar panels.
As for China, whilst wind and solar power have increased by 47 Mtoe since 2008:
Consumption of fossil fuels has jumped by 601 Mtoe.
There is no doubt that the Chinese Government is extremely concerned about energy security, as they have realised just how important it is to their economy. That is why China is building new coal power stations and opening new coal mines.
That is why they are developing new oil and gas fields, and doing deals with Russia including the building of oil pipelines.
That is also why they spent $73 billion in three years, buying up overseas oil and gas assets.
It is a pity that Obama, AEP, or, seemingly, anybody else in Western governments has not realised how important energy is to our economies. If they had, they would not be clinging to AEP’s renewable fantasy.