By: James Simpson | Capital Research Center
The Greatest Heist in World History
Net Zero Is Unattainable
One of the Biden administration’s stated goals is to “deploy 30 gigawatts of offshore wind energy by 2030 and achieve a net-zero carbon economy by 2050.” As already pointed out, this will only increase offshore wind’s contribution to 4.5 percent, and then only with massive government spending, loan guarantees, and mandates because green energy, especially offshore wind, is not profitable.
Biden’s Inflation Reduction Act has turbocharged the agenda, already well under way. But that is a drop in the bucket compared to a full implementation of the Green New Deal, estimated to cost between $51 and $93 trillion.
But could “net zero” be achieved, even with the spending envisioned by the Green New Deal? Non-carbon energy comes from four main sources: solar, wind, nuclear and hydroelectric. (There is also a modest amount of geothermal and hydrogen.) Existing hydroelectric dams in the U.S. are already being dismantled at an unprecedented rate, so constructing new ones will be unlikely. We are left with solar, wind and nuclear.
Ignoring the fact that the Left will almost certainly oppose new nuclear plants, it is literally not possible to construct enough “clean” energy plants, including nuclear, to achieve net zero by 2050 or even much further out.