Kerry Comes Clean On Green Energy

[Riddick]

What stands in the way of the long-rumored but still far-off green transition? The free enterprise system. Special Presidential Envoy for Climate John Kerry admitted as much Monday on MSNBC:

• Kerry said that President Joe Biden and King Charles were briefed “on the way trillions of dollars could begin to be deployed into the private sector to accelerate this transition so we are not putting greenhouse gas emissions up into the atmosphere to the detriment of every human being.”
  
  Host Ana Cabrera then asked, “What’s preventing those trillions of dollars from trickling into the solutions right now?”
  
  Kerry responded, “What’s preventing it is, to some degree, fear, uncertainty about the marketplace. People who manage very significant amounts of money have a fiduciary responsibility, an obligation to the people they manage it for not to lose the money, but to produce returns on that investment.
  
  Pension funds, many of them, are very careful about those investments in order to make certain they have the money to pay out to the pensioners who work for that money all their lives. So, there are tricky components of making sure that you have taken the risk away from these investments.”

But what’s the problem? If wind and solar are so great, why can’t they make money? Kerry attributes the problem to “risk,” but all investments have risk. What he really means is the cost of “green” energy is exorbitant, and because it is so unproductive, the demand for it is virtually nonexistent, outside of government mandates. Kerry says we need to “take the risk away” from “green” investments. How might we do that?

• “And the discussion with these people who manage huge sums of money was, we want to help, we want to deploy the funding, but you’ve got to help us create the structure for which we can do that.”

In other words, we are happy to invest trillions of dollars, but you have to take the risk out of the deal by guaranteeing our return. That is, of course, what is already happening with investor owned utilities. But as costs continue to skyrocket, more resources are needed to flow into the inexhaustible maw of the “green” boondoggle.

Supply and demand won’t do the trick. Consumers won’t support the effort. So the only solution is using taxpayer money to guarantee private sector returns. Thus the “green” train chugs onward. An utter failure in the marketplace, but still a darling of the political world, where politicians don’t spend their money. They spend yours.

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