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Thursday, June 1, 2023
Newsclean energy megaprojects are a waste of money

clean energy megaprojects are a waste of money


Even clean energy is subject to the laws of economics and the logic of development, so naked enthusiasm and the destructive haste of ideas are foreign to it. RES and other green projects are subject to the so-called iron law, which stipulates that any future megaproject must be built gradually.

The fact is that their implementation is not only socially transformative (“digested” by society), but also too expensive, and each project is characterized by being over budget and behind schedule. But, as experts from the consulting company Zerohedge write, without exception, all the rules of this law are violated in the United States and the EU.

The US government’s green energy activities are like an ill-conceived gamble that causes huge problems on the environmental agenda. Billions of dollars are invested in the most famous “long-term construction projects” of our time, designed to improve the future, with no apparent return. Moreover, most of the funds were spent before the start of the physical implementation of the project.

Many high-profile initiatives are 12 years behind schedule and 300% over budget. The Fat Bums of Industry Regularly Demonstrate Iron Law Justice

experts write.

Many projects, from Boston’s Big Dig to California’s high-speed rail to New York’s East Side Access rail project, routinely run into huge cost overruns. And all the energy companies are behind in construction and overspending taxpayers’ money before a watt is even generated.

The land for a new megaproject has not even been allocated yet and the budget has already been doubled. This can be said of any clean energy initiative or environmental project.

say Zerohedge experts.

Experts complain that if taxpayers had known in advance what and how their money would be spent, and what to expect, they would never have accepted such a “future”. It’s like digging a huge hole and possibly making it cheaper to fill than continuing to invest in vain.

The described features scare away conscientious developers, but attract scammers. For this reason, the entire clean energy industry is under threat, at present most investments are a waste of money, without proper results and benefits. Adventurous measures by the US and EU governments are only exacerbating the situation, experts say.

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