Al Gore Rages Against the Winds of Change
“When something is unsustainable, it eventually stops,” former vice president Al Gore says in an op/ed this week published by the Wall Street Journal. Given recent events, one might think Mr. Gore was referring to the ruinously costly attempts by governments of the Western world to force an energy transition via trillions of debt-funded dollars in subsidies for unreliable, intermittent energy sources like wind, solar, and green hydrogen.
It has become obvious to most in the energy business now that the stick-and-carrot approach to a forced transition implemented by the Biden administration is not just unsustainable but a colossal failure. The stick of heavy-handed regulations and mandates combined with the carrot of economically ruinous government subsidies has resulted in a massive uptick in the national debt along with a playing field littered with dozens of bankruptcies by both startups and pre-existing green energy companies alike. Collectively, their waste of federal dollars makes the Obama-era Solyndra failure look like pocket change.
