Fiat AF

Cc nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak

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“First, these numbers prove, yet again, that the alt-energy sector continues to be fueled by corporate welfare. For years, advocates for wind and solar energy have claimed that their schemes are cheaper than traditional forms of electricity generation. Last year, John Kerry, the Biden administration’s climate envoy, claimed that “Solar and wind are less expensive than coal or oil or gas. They just are less expensive.” If that were true, and solar energy is too cheap to meter, then the industry shouldn’t need tax credits.

But thanks to climate corporatism, some of America’s biggest corporations, including NextEra Energy and MidAmerica Energy, a subsidiary of Berkshire Hathaway, are collecting billions of dollars in tax credits and they stand to collect untold billions more in the coming years thanks to the IRA.

Second, it’s evident that President Joe Biden and members of his administration misled the American public about the cost of the IRA. On August 22, 2022, Biden gave a speech at the White House during which he said, “The Inflation Reduction Act invests $369 billion to take the most aggressive action ever — ever, ever, ever — in confronting the climate crisis and strengthening our economic — our energy security.” Biden’s defenders might argue that the president didn’t know exactly how much the IRA would cost taxpayers. But ignorance is no excuse. (Nor is old age.)

Third, this solar corporate welfare could add hundreds of billions of dollars to the national debt at the very time we cannot afford more debt. On Monday, the national debt surpassed $33 trillion, a milestone that the New York Times noted provides “a stark reminder of the country’s shaky fiscal trajectory.”

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https://robertbryce.substack.com/p/solar-energy-is-getting-200-times