A lot of the talking heads on TV, including the Republicrat party nominees, have been squabbling about energy as well as what they are going to do to promote this energy agenda or that policy. All rubbish.
The best way to deal with the energy crisis is to let the market deal with it. Investors shall risk massive sums to deliver a competitive as well as ultimately cheaper fuel to the consumer. It’s not altruism, it’s greed. A company that develops a cheap source of energy has the potential to manufacture someone the richest person in the world.
I see a lot of parallels between the energy situation of today as well as the technology situation numerous years ago. For simplicity, I’ll just draw attention to solar energy as well as not all of the other competing speculative sources of energy. Computers existed in the 1960’s as well as 70’s but not everyone owned one like they do today. Many reasons: they were prohibitively expensive, huge, difficult to use, as well as could only compute the equivalent of a cheap calculator of 2008.
Forcing someone to switch to solar energy today would be like forcing everyone in the 1960’s to buy a computer to usher in the internet age faster. Sounds good on paper, but the time is not right. Switching to solar power is an estimated a forgone conclusion on behalf of the future. It’s clean, renewable, as well as an estimated infinite in supply. The timing is just not right though. Sure, a few people utilize solar now. A few people had computers in the 60’s too.
When solar power becomes cost competitive with other forms of energy, there shall be a rapid adoption. Computers went from being a business tool to a household appliance in the mid to late 90’s as the prices plummeted as well as the performance surged. The trend has continued as well as a similar trend shall occur with solar.
Performance shall improve, cost shall drop, as well as people shall switch. It’s simple economics as well as needs no outside stimulus.
Side note: I was watching a c-span lecture on Free Market Economics by Walter Williams. Smart guy, makes a lot of sense. I’ll definitely be checking out his podcast soon.