When it comes to energy production, the government has a thumb on the scale...and an arm, and two legs. A new report finds that federal subsidies for so-called renewables like wind and solar are far outpacing those for traditional energy sources like fossil fuels. In fact, the report projects that by 2029, total subsidies for wind and solar will reach about $245 billion, compared with about $22.5 billion for fossil fuels, a difference of more than ten times.
This dramatic government push for "green" energy comes even as evidence shows the much-hyped energy transition is not happening. As Texans have seen first-hand during extreme weather events over the past few years, an overreliance on wind and solar makes the grid more susceptible to shortages. "Natural gas and nuclear are the two keys that are always available and always on, that permanent power that complements and supports whatever renewable power we also have in our market mix," says David Holt, president of the Consumer Energy Alliance. "So we need to make sure that these subsidies don't disadvantage natural gas and nuclear."
Holt cautions that the massive government favoritism toward wind and solar will lead to more imbalance and instability in the energy market, with real world consequences. "What could happen is natural gas becomes no longer market competitive with wind and solar because of the imbalance in subsidies and government handouts," he tells KTRH. "And if the natural gas market contracts, and we're not adding more nuclear, then we're going to have brownouts and blackouts on those days that aren't sunny, or the wind's not blowing."